GBPUSD – Oil Correlation

09.12.2021

Important events today:

Important macroeconomic statistics are not expected.

GBPUSD:

BioNTech and Pfizer reported yesterday that a course of three injections of the COVID-19 vaccine showed in laboratory tests a neutralizing effect against a new strain of coronavirus. This is the first official information from vaccine manufacturers about the efficacy of omicron vaccinations. BioNTech and Pfizer noted that two doses of the vaccine produced significantly fewer neutralizing antibodies, but the third dose of their vaccine increased the amount of neutralizing antibodies by 25 times.

The pharmaceutical companies added that, if necessary, they could begin supplying a vaccine against COVID-19 based on the omicron strain in March 2022. This is a positive signal for the oil market and the British currency, as assets have historically been correlated with each other. A decrease in quotes to the area of ​​yesterday’s low is advisable to use to open Buy positions.

Recommendation: Buy 1.3159 / 1.3130 and TP 1.3230.