GBP/USD to edge back towards daily low at 1.2065 .

Cable is trading on a firm note. Nonetheless, economists at Scotiabank expect GBP/USD to turn back lower towards the daily low at 1.2065.The broader downtrend remains intact

“With markets generally consolidating, gains through 1.2135/40 will be a stretch for the GBP and we rather look for prices to edge back towards the intraday low for spot around 1.2065.” “The broader downtrend in place since the start of the year remains intact which should serve to reinforce resistance in the 1.2175/00 zone.”

EUR/USD pulls away from session highs, stays above 1.0200

EUR/USD has lost its bullish momentum during the American trading hours and started to edge lower toward 1.0200. With Wall Street’s main indexes pushing lower after the opening bell, the greenback staged a rebound, causing the pair to turn south.


GBP/USD declines below 1.2100 following earlier rebound

GBP/USD continues to erase the daily gains it recorded during the European session and trades below 1.2100. The negative shift witnessed in risk sentiment seems to be providing a boost to the safe-haven dollar, weighing on the pair.


Gold falls to the $1,790 area, erases daily gains

Gold reversed its direction and dropped toward $1,790 after having climbed above $1,800 earlier in the day. The renewed dollar strength and the 1% increase seen in the benchmark 10-year US Treasury bond yield make it difficult for XAU/USD to stay resilient.

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