The British PMI Composite is above the US index for the second straight month, signaling an acceleration in UK GDP growth. Together with the expectations of discount rate growth of the Bank of England, this factor allows counting on the growth of the British currency quotes. The pound now has excellent opportunities to compensate for the lost positions. Additional support for “the bulls” will be provided by the oil market, where investors are again actively buying up futures for black gold. The “printing” of the US strategic reserve did not have a negative influence on the oil market.

On the eve, US President Joe Biden decided to use 50 million barrels of oil to lower prices on the domestic market. Inasmuch as stocks in storage in the OECD countries are now below the five-year average by 118 million barrels, this figure will increase by the end of December, which is favorable for oil prices.

Trading recommendation: buy 1.3359/1.3325 and take profit 1.3411.