The EUR/USD bounced back during Monday’s session as it trades close to the 1.11 mark. U.S. markets will not be open on Monday. 

The pair remains to keep a support marked by 61.8% Fibonacci level of the 1.0981-1.1239 positive move. It also looks to close in on the key 1.10 psychological mark.

There is the possibility for the currency is drop around the support mark at 1.1063. The decline will depend on the happenings and results of the German Producer Price Index (PPI), which will be released today. 

Additionally, later on today the German Bundesbank's monthly report will be published. 

As the Brexit deadline approaches, the GBP/USD is struggling to hold close to the 1.30 mark, affected by the possibility that the UK goes against European Union regulations after the 31st of January. Such case would cause problems for the UK’s industry. 

A Bank of England 25 bps rate cut is expected at the monetary policy on the 30th of January. The British pound highly rests on the outcome and consequences of Brexit.

The Cable dropped 110 pips after a gaining in three consecutive days. The USD increased amidst a growing U.S. economy.