FXstreet.com (Barcelona) - The Sterling (GBP) was under pressure as the USD strengthened and GBP/JPY selling undermined support, said Easy Forex Team.

The BOE cut by 0.5% and initiated Quantitative Easing with a 150Bn limit set aside. The market welcomed the clarity and helped the pair to recover and gain especially against the Euro.

Overall the GBP/USD traded with a low of 1.4039 and a high of 1.4232 before closing the day at 1.4140 in the New York session.