- Bulls eye a run towards 1.2500 for the sessions ahead.
- US dollar is under pressure as it breaks structure.
where there is a price imbalance, PI, on a 4-hour perspective on the way there that guards an order block, OB, above it.
At 1.2292, GBP/USD is up 0.16% as the US dollar falls away below a key structure on the DXY chart.
The US dollar is extending the downside after it slipped on Friday and posted its first weekly decline this month. A fall in oil and commodity prices has dented the greenback’s safe-haven appeal. We have seen the price action in DXY play out as follows:
Meanwhile, while this is a positive development for GBP, domestically, the focus is on the forthcoming Bank of England while observers note that the UK is in danger of being the slowest-growing major advanced economy next year.
The Uk could have with the highest inflation rate and the biggest current account deficit,…
