17 Februari 2021, GBP/USD
GBPUSD trading plan:
The positive outlook for the major economies continues to support financial market sentiment thanks to sharp gains in crude oil prices and optimism over better growth ahead due to the impressive roll-out of COVID vaccines. This is a negative signal for the dollar. The U.S. dollar is a funding currency that becomes cheaper during periods of high demand for “high-yielding” assets. A sharp drop in new coronavirus infections, progress in vaccinations and a stronger-than-expected fourth-quarter earnings season have reinforced hopes of a quick business recovery this year.
Investment idea: Buy 1.3860 and take profit 1.3950.