GBP/USD is trading at 1.38882, 0.21% up since Monday. The firmer USD ahead of Fed meet outcome & ongoing earnings season seems to be supportive for other basket of currencies. Moreover, the soaring U.S bond yields cushioned the major currencies. Last week, the U.K Retail Sales grew by 5.4% from 2.2% in the previous month & the Public Sector Net Borrowing rose to 27.3B from 15.3B in the prior month. The better than expected PMI data turned out to be supportive for GBP/USD.  As seen in the chart, the pair sustained MA (10) & MA (20) & reversed upside. Also, the RSI line seems to be taking a support of mid-level 50; indicating the chances of further upside in the pair & hence, buying on lower levels may be suggested on daily basis.

Gold is trading at $1782.58, 0.42% up since previous close. The safe haven instruments slightly gained the momentum ahead of FOMC meet which is to be concluded on Wednesday with a hint over monetary policy stance. The soft USD & falling bond yields cushioned the equity markets & gold. Optimism over global recovery & progressive supplies of vaccine doses across the world further cushioned the prices since this may retrieve the consumption demand of precious metals. The result of U.S Consumer Confidence data will remain in focus for the day. As seen in the chart, the Gold is strongly trading above the MA (10) & MA (20) which indicates further buying on an intraday basis.

INDIA50 is trading at 14557, 0.19% up since previous day close. The SGX Nifty turned higher despite rising Covid-19 cases across the country crossing the daily toll above 300,000. An arrangement towards providing necessary medical facilities & efforts to increase supplies of vaccine doses remains slightly positive for INDIA50. Last week, the U.S President Joe Biden proposed to hike the taxation rate of wealthiest Americans to 40% in order to fund social plans which drove off the equity markets. The focus will remain on upcoming U.S Fed meet wherein interest rate decision may remain significant. As seen in the chart, the index INDIA50 is floating in a bullish channel pattern & is on the verge of crossing MA (10) & MA (20) which indicates a buying bias on daily basis.