19 November 2021, GBP/USD
GBPUSD trading plan:
Oil prices rose, after wild swings the day before, on investor concerns that potential coordinated releases by the world's major economies of their official crude reserves to try to lower pricesmay have less of an impact than expected. The market gyrations followed a Reuters report that the United States had asked China, Japan and other big buyers to join a release of crude stocks from Strategic Petroleum Reserves. However, the market remains fundamentally tight and any volumes released are unlikely to substantially alter the global balance. Economies recover from the COVID-19 pandemic at the same time the Organization of the Petroleum Exporting Countries, and allies, known as OPEC+, has only gradually raised output. A positive signal for oil prices and the British currency as assets correlate with each other.
Investment idea: buy 1.3477 and take profit 1.3540.
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