10 February 2022, GBP/USD
GBPUSD trading plan:
U.S. crude oil stockpiles fell unexpectedly last week as overall refined product demand reached an all-time record, according to government data on Wednesday, showing how the U.S. economic pace is cutting into the market's already tight supply. Crude inventories fell 4.8 million barrels in the week to Feb. 4 to 410.4 million barrels, their lowest for commercial inventories since October 2018, the Energy Information Administration said. U.S. product supplied - the best proxy for demand - peaked at 21.9 million barrels per day over the past four weeks due to strong economic activity nationwide. Both U.S. demand for distillates like diesel, along with propane and propylene, surged. Correlation between the British currency and oil.
Investment idea: buy 1.3500 and take profit 1.3550.
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