FXstreet.com (Buenos Aires) - Pound hit a five-month low early Europe, reaching 1.5728 before halting the fall; slide come after the Centre of Economics and Business Research, in its latest prospects, predicts the Bank rate will remain at 0.5% until 2011, and that the U.K. will likely need to extend quantitative easing.

GBP/USD rebounded at 1.5728, quoting now at 1.5750 area; 4 hours charts show pair still has room to extend downside movement, despite any upside corrective movement; under 1.5730 area, next support came at 1.5680 and 1.5630 area. Resistances from current level lie at 1.5770, 1.5820 and 1.5880, daily high.