FXstreet.com (Barcelona) - The Sterling is trading in a narrow range against the Dollar between 1.6630 and 1.6665 in the early American morning in a quiet session and following the Pound's collapse on BoE inflation report which take the pair from 1.6800 to hit intra-day low at 1.6620.

Currently the pair is trading around 1.6630/40, 0.75% below today's opening price action at 1.6743.

The ecPulse.com analysis team comments how King's comments have affected the Sterling: As Bank of England Governor Mervyn King stated that the economy is struggling for recovery as he is keeping an open mind towards expanding the bond purchasing program, meant that the nation continues to suffer from the worst economical phase since post world war era which therefore weighed heavily on the pound. The GBP/USD is currently trading at 1.6640 recording a high of 1.6799 and a low of 1.6618 between the support of 1.6632 and resistance of 1.6683 and if the mentioned support is broken, the pair will head towards the upcoming support of 1.6546.