08 January 2021, GBP/USD
GBPUSD trading plan:
Companies said the pandemic cut 16.1% on average from sales during the fourth quarter, the BoE said, more than the 15.3% hit penciled in from November's survey. They also saw a bigger hit to jobs. The worsening conditions came last month despite positive news on COVID-19 vaccines and a relaxation of health restrictions in many parts of England. This is a negative signal for the British currency! Crude oil prices pushed higher, with the fundamental support from Saudi Arabia's production cut bolstered by the wholesale enthusiasm for risk assets in the wake of the runoff elections that will put the U.S. Senate under the effective control of the Democratic Party. This is a positive signal for the British currency, as assets are correlated with each other.
Investment idea: range 1.3510 -1.3610.
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