GBP/USD has been retreating amid diverging disease curves across the Atlantic, yet other factors such as rising US yields and worries about Britain’s furlough scheme were also in play. Cable is seen navigating within the 1.2950-1.3160 range for the time being. EUR/USD rally looks overdone as per technical indicators, however, a notable pullback could still remain elusive, as a fiscal impasse in Washington is likely to keep the dollar bulls at bay. The pair is trading at 1.1860 at press time, representing a 0.17% gain on the day. The weekly chart relative strength index is hovering above 70, indicating overbought conditions for the first time in over 2.5 years. The dollar was down on Monday morning, but capped its losses after a meeting between U.S. and Chinese officials, originally scheduled for Saturday, was delayed. The U.S. Dollar Index was down 0.07% to 93.023.
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