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The correlation between the British currency and oil

The correlation between the British currency and oil | 27 November 2019

27 November 2019, GBP/USD

The correlation between the British currency and oil

GBPUSD trading plan:

Good news and bad news. The good news is a bullish rally in the oil market, as there is a correlation between the British currency and BRENT. Investors are increasing long positions in the oil market after positive trade talks between Washington and Beijing. U.S. President Donald Trump said the United States and China are close to agreement on the first phase of a trade deal after top negotiators from the two countries spoke by telephone and agreed to keep working on remaining issues. The bad news is political instability in the UK. Boris Johnson can't agree with opposition leaders on BREXIT.

Trading recommendation: range 1.2800 -1.2880.

TRADE OILS WITHOUT SWAPS!

David Johnson
Analyst of «FreshForex» company
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