Monday saw further strengthening of the dollar, which is still based primarily on raising US bond yields, and not strictly risk-off appetite. While Wall Street is indeed a slightly weaker today, but it should be the most resilient given that it will benefit from the possible fiscal package to be unveiled by President-elect Joe Biden this coming Thursday; of course, unless it is followed by the announcements of greater restrictions in connection with the fatal pandemic situation that persists in the US.
United States Government Bonds 10Y
The EURUSD and GBPUSD charts confirm the trends outlined in my earlier analysis. The dynamics of the movement is accelerating which, does not necessarily mean a full-blown breakdown. In the case of EURUSD the key support zone is only around 1.1930-1.2015, and for GBPUSD 1.3185.
EURUSD Daily Chart
GBPUSD Daily Chart