Correlation between oil and the British currency | 23 November 2020

23 November 2020, GBP/USD

Correlation between oil and the British currency

GBPUSD trading plan:

A bullish rally in the oil market will have a positive impact on the value of the British currency. Pfizer Inc applied to U.S. health regulators for emergency use authorization of its COVID-19 vaccine, the first such application in a major step toward providing protection against the new coronavirus. Pfizer and German partner BioNTech SE reported final trial results that showed the vaccine was 95% effective in preventing COVID-19 with no major safety concerns. The FDA said on Friday it would hold a meeting of the advisory committee on Dec. 10 at which members would discuss the vaccine. This is a positive signal for the oil market!

Investment idea: Buy 1.3281 and take profit 1.3350

David Johnson
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .