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The GBP/USD pair is seen reversing most gains heading towards the European open, as the bears appear to regain control amid deteriorating risk sentiment, with the European traders hitting their desks and reacting to the weekend's news of the US-led airstrikes on the Syrian chemical weapons facilities.

Moreover, markets prefer to remain in a wait and see mode before placing any big bets on the pound ahead of a data-intensive big week ahead, as all eyes remain on the UK jobs, CPI and retail sales figures to gauge the Bank of England’s (BOE) next policy move.

In the meantime, the risk trends amid developments around the global politics will continue to drive the risk asset, Cable, ahead of the US retail sales report and Fedspeaks due later on Monday.


source: fxstreet