23 December 2021, GBP/USD
GBPUSD trading plan:
A bullish rally in the oil market will have a positive impact on the value of the British currency, as assets correlate with each other. U.S. inventories fell more than expected, with crude stocks down by 4.7 million barrels, though that is in part due to year-end tax considerations that encourage companies not to store crude barrels. The oil market's rally may also be buoyed in part by European utilities switching their power source to heating oil from natural gas due to record-high prices on the continent. Moderna Chief Executive Officer Stephane Bancel said on Tuesday that the vaccine manufacturer does not expect any problems in developing a booster shot to protect against the Omicron variant. This is a positive signal for oil prices.
Investment idea: buy 1.3333 and take profit 1.3386.
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