28 April 2020, GBP/USD
GBPUSD trading plan:
The bearish rally in the oil market will have a negative impact on the value of the British currency. Oil futures slumped after the largest U.S. oil exchange-traded fund said it would sell all its front-month crude contracts to avoid further losses as prices collapse. Oil prices weakened again on persistent concerns about oversupply and a lack of storage space. The front-month contract was trading at lower-than-usual volumes on Monday as investors moved to later months in futures contracts.
Trading recommendation: Sell 1.2430 and take profit 1.2400.