FXstreet.com (Sydney) - The pound lost recent gains against the dollar and is trading at 1.6728. The pair opened in local trade at 1.6747 and rose to post an intraday high of 1.6754 before dropping to current levels. The pair is considered slightly bearish and finds support at 1.6678 and resistance at 1.6772.
The pound was put under pressure by negative market reactions following the release of BoE minutes on monetary policy (MPC). The main point there was that the vote was split concerning the bank's expansion of its quantitative easing program.
Further, Gordon Brown vowed to slash the nation's massive deficit and tighten up rules in the financial services industry.