TheUK PM Johnson on omicron variant risks and plans going forward:

  • Omicron is growing much faster than previous variant
  • Worryingly there is evidence of that doubling time of omicron variant could be between two – three days
  • We are seeing rapid growth in omicron cases in UK like in South Africa
  • We can assume omicron is less severe than previous variants
  • Will move to plan B in England
  • We will buy ourselves time to get more booster shots out
  • We will reintroduce guidance to work from home
  • From Monday you should work from if you can
  • From Friday we will further extend facemask requirement to most public venues
  • We will make NHS Covid past mandatory to nightclubs, venues and places with large crowds
  • We will give businesses a week notice on NHS Covid past requirements

More from Johnson:

  • if it turns out people at Downing Street did not follow rules, of course there will be proper sanctions
  • People should not cancel nativity place for children
  • People should exercise due caution for Christmas parties

The GBPUSD has recovered off of its lows for the day at 1.31588 and also moved back above swing lows from yesterday and Friday at 1.3208 and other lows at 1.32201 (see earlier post on the GBPUSD here). The falling 100 hour moving average at 1.32551 is the next major target (the current price trade at 1.3240. Above that is the 200 hour moving average 1.32845. The price has not traded above the 200 hour moving average since November 22.

On the downside a move back below the 1.3220 and 1.3208 level would not be good for the dip buyers looking for more upside.

GBPUSD has been able to extend above swing low areas