GBPUSD gives reasons to buy

07.12.2021

Important events are not expected today.

GBPUSD:

The United Kingdom pleased us with positive statistics on business activity in the construction sector – the PMI indicator updated the maximum in the last 4 months, which is good for the pound, since the growth of the real estate market is the main indicator of the economic health.

There is a demand for oil, which is also GBP, as assets are always correlated with each other. The energy sector accounts for a large share of industrial production in the UK. According to OPEC +, black gold reserves in the OECD countries in November are 174 million barrels below the average of the last 5 years. For oil prices, this is a good signal that price increases can be expected by the end of the year.

Trading recommendation: Buy 1.3255 / 1.3230 and TP 1.3315.