Trend Theme：GBP/USD retreats from 1.37 amid Brexit, covid concerns.
Trend Review：GBP/USD is trading below 1.37, riding on an extension of late 2020’s dollar decline. Sterling is shrugging off concerns of Brexit jitters and the increase in COVID-19 cases in the UK. PM Johnson is pressured to enact a new nationwide lockdown.
|PP||Resistance*||1.3676 *||1.3686 **||1.3693 ***|
|1.3669||Support*||1.3659 *||1.3652 **||1.3642 ***|
Trend Theme：USD/CAD trades at multi-year lows near 1.2670 ahead of PMI data.
Trend Review：The USD/CAD pair lost 140 pips last week and extended its slide on Monday pressured by broad USD weakness and surging crude oil prices. As of writing, the pair was trading at its lowest level since April 2018 at 1.2672, down 0.43% on a daily basis.
|PP||Resistance*||1.2735 *||1.2751 **||1.2751 ***|
|1.2727||Support*||1.2719 *||1.2711 **||1.2703 ***|
Trend Theme：WTI erases majority of daily gains, closes in on $48.
Trend Review：Crude oil prices surged higher on the first trading day of 2021 and the barrel of West Texas Intermediate (WTI) touched its highest level in more than 10 months at $49.80. However, the WTI reversed its direction ahead of the American session and last seen posting small daily gains at $48.25.
|PP||Resistance*||48.54 *||48.59 **||48.65 ***|
|48.49||Support*||48.44 *||48.38 **||48.33 ***|
Trend Theme：Gold: Rallies to near two-month tops, around $1935-36 region.
Trend Review：A combination of factors assisted gold to gain some strong positive traction on Monday. The prevalent USD selling bias was seen as a key factor that benefitted the commodity. Worries about the continuous surge in COVID cases remained supportive of the move.
|PP||Resistance*||1900.54 *||1902.64 **||1904.29 ***|
|1898.89||Support*||1896.79 *||1895.14 **||1893.04 ***|