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Sterling has been one of the weakest currencies among the majors over the past week. Economists at Scotiabank expect the GBP/USD to drop back under the 1.20 level.GBP prone to a bit more softness 

“GBP price action last week overall pushed cable below the rising trend in place since mid-Jul and leaves spot at clear risk of a return to sub-1.20 levels.””Support is 1.2040 and 1.2000/05.”“Resistance is 1.2125.”

 EUR/USD stabilizes near 1.0200 despite upbeat mood

EUR/USD continues to fluctuate in a relatively tight range near 1.0200 in the American session on Monday. Although the sharp advance witnessed in Wall Street’s main indexes points to a risk-positive market environment, the shared currency is struggling to find demand.

EUR/USD News 

GBP/USD clings to recovery gains above 1.2100

GBP/USD continues to trade in positive territory above 1.2100 in the second half of the day on Monday. With the dollar struggling to preserve its strength in the risk-positive market atmosphere, the pair remains on track to post daily gains.

GBP/USD News 

Gold climbs above $1,780 as US yields push lower

After having moved sideways near $1,770 during the Asian trading hours on Monday, gold regained its traction and climbed above $1,780. The benchmark 10-year US T-bond yield is pushing lower following Friday’s upsurge, allowing XAU/USD to stretch higher.