GBP/USD has fallen to fresh session lows at 1.6757 after taking out support at 1.6770 on the intraday charts. The pound has been under pressure throughout the US session as the Bank of England surprised the market with another GBP 50 bln in quantitative ease earlier today. A weaker pound would be a favorable outcome as far as the BOE is concerned. 1.6695/1.6700 is solid support on pullbacks should the pound extend losses further.
If EUR/USD breaks below 1.4338, expect profit-taking to accelerate as dealers cover dollar shorts across the board.