Good and bad news | 07 December 2020

07 December 2020, GBP/USD

Good and bad news

GBPUSD trading plan:

"After one week of intense negotiations in London, together with David Frost, we agreed today that the conditions for an agreement are not met, due to significant divergences on level playing field, governance and fisheries," the EU's top negotiator, Michel Barnier, said. David Frost, Britain's top negotiator, made a similar statement on social media. This is a negative signal for the British currency. A bullish rally in the oil market will have a positive impact on the value of the pound, as assets are correlated with each other. Crude prices hit nine-month highs and closed with a fifth straight week of gains as investors piled into oil after OPEC and its allies successfully stage-managed a production hike without rocking the market.

Investment idea: range 1.3250 -1.3340.

David Johnson
Analyst of «FreshForex» company
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