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Good and bad news for the British currency

Good and bad news for the British currency | 22 April 2021

22 April 2021, GBP/USD

Good and bad news for the British currency

GBPUSD trading plan:

Good and bad news for the British currency. British inflation is forecast to rise sharply in the coming months, due to an increase in regulated household energy bills in April, higher global oil prices and comparisons with prices a year ago when COVID lockdowns caused demand to slump. This is a positive signal for the pound. Oil prices fell for a third day, as a surprise build in U.S. crude inventories and a resurgence of COVID-19 cases in India and Japan raised concerns that a recovery in global economy and fuel demand may slow. This is a negative signal for the British currency, as the pound correlates with oil.

Investment idea: range 1.3890 -1.3980.

David Johnson
Analyst of «FreshForex» company
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