The GBPUSD broke lower today and answered many trader questions regarding a possible head and shoulder formation in the pair.  The pair could be on its ways to test monthly lows unless the ECB delivers fireworks Thursday an ignites a risk on rally.  Support for the cross begins at the daily low at 1.5525 followed by 1.5460 and 1.54.  A break of 1.54 open up the pair for a retest of the yearly lows at 1.5275.  Resistance is now at past support at the .382 Fib from the May lows at 1.5660.  The BOE rate decision is due in early North American trading.  Economist are expecting the rate to remain unchanged.

Sup    1.5525

Res    1.5660

Keane Insight:  Buyers may emerge in Asian trading at support anticipating ECB action.