Technical analytics

The pair spent half of the night at 1.1750. A fresh buying interest emerged in the mid-Asian session. 

The descending channel remained in place on Monday. 

Buyers finally reclaimed the 113.00 level and posted a fresh high at 113.42. 

The pound is still in red figures, however, the major started a correction phase.

The market sentiment turned bearish when buyers failed to build on a recovery. 

The tone is still negative in the market. However, bears retreated and this is a chance for buyers to reverse some losses. 

DAX

DAX is neutral on Monday. The benchmark is still around 13000 preserving its neural-to-bullish stance.

After unsuccessful attempt to regain 2550 the pair lost steam and turned to the downside. 

Brent oil prices sharply dropped on Friday. 

Buyers are back and strive hard to reverse their recent losses.