GBP/USD to revisit the 2020 low near 1.1410 on a drop under 1.1740 .

GBP/USD is gradually approaching potential support at 1.1840/1.1740. A break below this region would clear the way towards the low carved out in 2020 near 1.1410, strategists at Société Générale report.

Recent pivot high of 1.2670 must be overcome to affirm an extended rebound

“The pair is drifting gradually towards potential support of 1.1840/1.1740, representing the lows of 2016 and projections. Defending this zone could result in a short-term bounce.”

“The recent pivot high of 1.2670 is an important resistance. This must be overcome to affirm an extended rebound towards 1.2810, the 38.2% retracement from June 2021 and December low of 1.3100/1.3160.” “In the event that the ongoing decline persists below 1.1740, the pair could revisit the low carved out in 2020 near 1.1410.”

EUR/USD climbs above 1.0600 amid renewed dollar weakness

EUR/USD has gathered bullish momentum and advanced beyond 1.0600 during the American trading hours on Monday. Following the mixed data releases, the US Dollar Index extended its slide below 104.00 and fueled the pair’s rally in the second half of the day.


GBP/USD reverses direction, reclaims 1.2300

Following a dip below 1.2250 earlier in the day, GBP/USD reversed its course and reclaimed 1.2300. The broad-based selling pressure surrounding the greenback helps the pair push higher in the American session as investors assess the latest data releases.


Gold drops toward $1,820 as US yields push higher

Gold extended its daily slide toward $1,820 in the second half of the day. The benchmark 10-year US Treasury bond yield is up nearly 2% on the day at around 3.2% amid improving market mood, weighing on XAU/USD on Monday.

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