Correlation between the British currency and oil | 12 Enero 2022

GBPUSD trading plan:

Oil rose to nearly $81 a barrel, supported by tight supply and expectations that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery. A lack of capacity in some countries has meant that supply additions by the Organization of the Petroleum Exporting Countries are running below the increase permitted under a pact with its allies. Major economies have avoided a return to severe lockdowns, even as COVID-19 infections have soared. European jet fuel refining margins, for example, are back to pre-pandemic levels as supplies in the region tighten and global aviation activity recovers despite the spread of Omicron. This is a positive signal for oil and the British currency, as assets correlate with each other.

Investment idea: buy 1.3614 and take profit 1.3672.