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Forex pairs in this Article » GBP/USD (Barcelona) - GBP/USD is over 40 pips lower in the past hour after after Bank of England's Weale crossed the wires saying he can envisage circumstance when further QE may be needed.

Following a peak reached at 1.5716 post Fed minutes, the GBP/USD has extended its decline losing 1.5650 support to currently stay at 1.5625 following a low of 1.5616, with some decent support between 1.56 up to 1.5610, double bottom Aug 16/19.

According to Valeria Bednarik, Chief Analyst at "The lack of follow through at current levels may be the first sign of a top underway, although there is not yet anything that confirms a stronger bearish movement."

After the last break through 1.5650 though, Valeria sees "short term downward continuation towards the 1.5600 figure, followed later by 1.5540/60 price zone."
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