FXstreet.com (Barcelona) - The Sterling (GBP) fell heavily after the unrevised Q4 GDP at -1.5% sparked speculation of rate cuts and rumors swirled of fresh banking bailouts.

Easy Forex Team said: EU representatives expressed concern of the pounds weakness especially against the Euro as created an artificial trade advantage.

Overall the GBP/USD traded with a low of 1.4176 and a high of 1.4605 before closing the day at 1.4210 in the New York session.