Positive macroeconomic statistics from the United States | 06 March 2020
06 March 2020, GBP/USD
GBPUSD trading plan:
The Organization of the Petroleum Exporting Countries on Thursday pushed for crude output by OPEC and associated producers - a group known as OPEC+ - to be cut by an extra 1.5 million barrels per day bpd in total until the end of 2020. The call came ahead of an OPEC+ meeting scheduled for Friday in Vienna. Non-OPEC states were expected to contribute 500,000 bpd to the overall extra cut, OPEC ministers said. This is a good signal for the British currency! There is a strong correlation between GBPUSD and BRENT.
Trading recommendation: Buy 1.2940 and take profit 1.2970.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
