GBP/USD fluctuated in a narrow channel in the Asian session before retreating to the 1.2100 area in the European morning. The near-term technical outlook suggests that the bearish bias stays intact.
Over the weekend, the United Arab Emirates (UAE) requested a UN Security Council emergency meeting to discuss the situation in the Gaza Strip, asking "for an immediate ceasefire to ensure that civilians and civilian institutions are not targeted."
There seems to be an improvement in risk mood following this development on Monday, with the UK's FTSE 100 Index gaining more than 0.5% in the European session. Additionally, US stock index futures trade in positive territory, pointing to a bullish opening in Wall Street.
Over the weekend, the United Arab Emirates (UAE) requested a UN Security Council emergency meeting to discuss the situation in the Gaza Strip, asking "for an immediate ceasefire to ensure that civilians and civilian institutions are not targeted."
There seems to be an improvement in risk mood following this development on Monday, with the UK's FTSE 100 Index gaining more than 0.5% in the European session. Additionally, US stock index futures trade in positive territory, pointing to a bullish opening in Wall Street.