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Forex: EUR/GBP upside capped by 0.8550

FXstreet.com (Barcelona) - The pair is posting marginal losses on Monday, trading around 0.8545/50 although failing to break above 0.8550 so far.
Both the single currency and the sterling are suffering the increasing selling interest in the risk-related assets since Chinese GDP figures during the first quarter have disappointed investors this early morning.

“The market remains upside corrective and we look for the near term rebound from the .8417 low to test the 55 day ma at .8583. There is scope for a move to the top of its cloud at .8646 currently, where we look for the up move to falter”, commented Karen Jones, Head of FICC Technical Analysis at Commerzbank.

At the moment, the pair is losing 0.04% at 0.8544 with the next support at 0.8512 (MA10d) followed by 0.8495 (low Apr.12) and finally 0.8464 (low Apr.8).
On the flip side, a breakout of 0.8560 (high Apr.10) would aim for 0.8565 (high Mar.25) and then 0.8570 (high Mar.21).

Forex: USD/CAD hovering over 1.0200

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