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FXstreet.com (Córdoba) - The pound came under pressure and lost ground against the greenback on Wednesday after the BoE minutes revealed the MPC voted 7-2 to raise QE total by £50 bn, while market expectations were for a unanimous vote.

GBP/USD dropped over 70 pips and slipped below the 1.5600 mark to hit a low of 1.5880 during the European session. The pair however, has managed to trim losses and currently it is trading at the 1.5600/05 zone, still down 0.3% on the day.

From a technical view, "While below 1.5620 immediate resistance, chances are of further slides in the pair, with a key support at 1.5550, yesterdays' low and strong static support level: an acceleration below that mark should put sellers back in control and send price near the 1.5490/1.5510 area today", says Valeria Bednarik, chief analyst at FXstreet.com. "Once below this latter, next bearish target comes at the 1.5440/50 price zone".

According to the analyst, above 1.5620, the downside would be denied and the pair will likely retest the 1.5660/70 price zone.

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