FXstreet.com (Barcelona) - The Sterling (GBP) had a major break to the downside after support at 1.4000 gave way given part nationalization of Lloyds bank and speculation that BOE quantitative easing will flood the market with Pounds.

Overall the GBP/USD traded with a low of 1.3745 and a high of 1.4179 before closing the day at 1.3785 in the New York session, said Easy Forex Team.