GBP/USD is trading at 1.41729, 0.29% up since Monday. The Pound seems to trading on higher side against the soft USD amid global cues. In U.K, the Public Sector Net Borrowing rose to 31.0B from 25.5B in the previous month which further pushed up the GBP/USD. The better than expected PMI figures released last week adds on the bullishness in Pound. Last week, uncertain chances of FOMC QE tapering talks amid global recovery made other currencies weaker in the prior session. The result of Nationwide HPI data will remain in focus for the day. As seen in the chart, the GBP/USD is trading above the MA (10) & hence, buying on dips may be recommended on daily basis.

WTI Oil is trading at $65.46, 0.06% up since Monday. The optimism over the chances of revival of the Iranian nuclear deal with U.S later in this week; contributed a buying in WTI Oil. The recent U.S Bake Hughes report showed a rise in Oil rig counts by 4 leading to 356 from 352 in the previous week. Besides this, the soft USD on uncertain outlook of Fed tapering down talks & rising inflation fears cushioned the dollar denominated commodities. The result of U.S API report will remain in focus for the week. As seen in the chart, the false breakdown can be seen in Oil prices crossing down the lower trend-line of triangle pattern & hence, slight buying bias may be noticed for the day in WTI Oil.

US100 is trading at 13706, 0.28% up since Monday. The U.S markets continued to be seen on positive side since last few sessions amid growing optimism over global recovery. The satisfying speech of few Fed officials on Monday towards gradual approach for monetary policy remained supportive for US100. Last week, the U.S released better than expected PMI figures which showed a progress in manufacturing & industrial activities. The U.S Jobless Claims data showed a fall in number by 444K from 478K in the prior week. The result of Consumer Confidence & Richmond Manufacturing Index data will remain in focus for the day. As seen in the chart, the index took a support of lower trend-line of channel pattern & hence, buying on lower side may be recommended.