On the eve, the British pound came under attack of the oil market, where investors were fixing profits on longs. The pound has been historically correlated with oil, inasmuch as the UK energy sector accounts for about 10% of GDP. On the eve, oil renewed a two-year maximum and at the moment exceeded $77 per barrel, after which we saw a technical correction.

In my opinion, this is precisely a technical correction, inasmuch as the structural shortage of supply has not disappeared anywhere and the current macroeconomic factors indicate that black gold will seek to test the psychological level of $80 per barrel this month. Against this background, the current levels are attractive for opening Buy positions for both the pound and oil.

Trading recommendation: Buy 1.3790/1.3765 and take profit 1.3900.