Negative forecasts for the oil market | 13 Agosto 2021
13 Agosto 2021, GBP/USD
GBPUSD trading plan:
Increasing demand for crude ground to a halt in July and is set to rise at a slower pace over the rest of 2021 because of the surge in infections from the Delta variant of the coronavirus that causes COVID-19, the IEA said. "Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use," the IEA said. This is a negative signal for oil and the British currency, since the assets are correlated with each other.
Investment idea: sell 1.3825 and take profit 1.3775.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
