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Forex: EUR/GBP finds support at 0.8400

FXstreet.com (Barcelona) -The renewed weakness in the shared currency after the dovish comments by ECB’s M.Draghi dragged the cross to fresh intraday lows in the proximity of the 0.8400 figure, albeit picking up pace afterwards to the current area of 0.8410/15.

In light of the BoE MPC meeting, Senior Economist Richard Barwell at RBS commented, “We expect the MPC to maintain its monetary policy settings in May... We have been sceptical for some time about the likelihood of a QE extension in May and the probability of policy easing has diminished following the resumption of GDP growth, marginally better survey data, and the extension of the Funding for Lending Scheme (FLS)”.

At the moment EUR/GBP is losing 0.22% at 0.8410 and a breakdown of 0.8398 (low Apr.26) would aim for 0.8364 (low Jan.22) and finally 0.8358 (low Jan.18).
On the other hand, the initial resistance lies at 0.8455 (high May 3) followed by 0.8469 (MA10d) and then 0.8493 (MA30d).

Forex: GBP/USD consolidates below 100-hour SMA

The British pound started the week with a soft tone and lost ground versus the greenback after being rejected from a high of 1.5594 during the UK bank holiday. However, after dropping over 70 pips from highs, GBP/USD found support at the 1.5520 zone during the New York session, as risk appetite improved.
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The Canadian dollar is picking up pace against the buck on Monday, dragging the cross from levels above 1.0090 to the current area of 1.0070/75...
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