FXstreet.com (Córdoba) - The Pound is falling sharply across the board for the third consecutive session. GBP/USD is holding near the lows of the day that lie at 1.6458. The pair failed to get back above 1.6500 and continues under pressure. To the downside support could be located at 1.6450 (Nov 3 high) and below at 1.6400/1.6405 (Nov 4 low).
Currently trades at 1.6475/80, 1.12% below today's opening price action at 1.6665. Cable has fallen more than 350 pips against the Dollar in the last four days.
Andrew Wilkinson, analyst at Interactive Brokers, affirms: The British pound slumped to its lowest reading since November 4th to $1.6460 as the dollar flexed this morning. Since that time the pound rose to $1.6876 as investors bought into an extension of the asset purchase plan announced by the Bank of England. Subsequent worries over the health of the banking system and fresh warnings today for the value of home prices are cramping its style today.