Technical correction

12.11.2021

The British currency has a good chance of showing a technical correction today, inasmuch as there is a demand for risky assets on the global financial markets, which is favorable for the pound. If at the beginning of the week investors were worried about the possible default of the Chinese developer Evergrande Group, now these fears have faded into the background, insofar as the company has fulfilled its obligations, and now it needs to make new payments on December 28.

The OPEC oil cartel has published a fresh release on the oil market, where it recorded a supply deficit of 1.7 million bpd, which is favorable for oil prices. The rise in black gold has historically had a negative influence on the US currency, inasmuch as the commodity is quoted in dollars.

Trading recommendation: buy 1.3339/1.3307 and take profit 1.3395.