EUR/USD advances above 1.1050 - GBP/USD extends gains to 1.2950

USD/JPY

USD/JPY is seen treading water around 108.75 region, as a sense of caution prevails in Monday’s trading amid escalating Hong Kong violence. Meanwhile, the US-China trade negotiations continue to remain the central focus, with mixed messages delivered by both sides last week. USD/JPY is expected to find support at 108.74 and a fall through could take it to the support level of 108.58. On the other side, resistance stands at 109.04 and a rise through could take it to the level of 109.18.

EURUSD

EUR/USD is seen building on its last week’ s recovery above the 1.1050 level, having hit weekly highs at 1.1065 on mild US dollar weakness across the board. The US and China held high-level talks over the weekend and hailed them as "constructive." Several ECB members speak today. EUR/USD is expected to find support at 1.1048 and a fall through could take it further to the support level of 1.1034. On the other side, resistance stands at 1.1073 and a rise through could take it to the next resistance level of 1.1086.

GBPUSD

GBP/USD is trading around 1.2950, extending its gains. The Conservatives have been extending their gains in polls. PM Johnson and opposition leader Corbyn will address a business conference today. GBP/USD is expected to find support at 1.2925 and a fall through could take it to the next support level of 1.2900. On the other side, resistance stands at 1.2963 and a rise through could take it to the next resistance level of 1.2985.

GOLD

Gold takes rounds to $1,468 during early Monday morning with US-China trade optimism confronting geopolitical tension concerning Hong Kong and Iran. Recently mixed messages from the global central bankers add to the safe-haven moves. Gold is expected to find support at 1,459.10 and a fall through could take it to the support level of 1,456.90. On the other side, resistance stands at 1,467.30, and a rise through could take it to the level of 1,471.20.