The pound declined, dropping to a 10-week low against the euro, after minutes of this month’s Bank of England meeting showed two policy makers voted for a larger increase in asset purchases than the amount finally agreed.

The euro was little changed against its major rivals after the rating agency Fitch slashed the ratings of Greece to 'C' from 'CCC'.

Current level - 1.5708

As yesterday's attempts for a break below 1.5630 failed and with the violation of the crucial 1.5770 a bottom has been confirmed at 1.5644 and the outlook here is bullish for 1.5930, en route to 1.6120. Initial support is projected at 1.5770 and minor resistance on the upside can be spotted at 1.5850-60.

Current level - 1.3235

Still in the minor aside pattern below 1.3295 peaks and my outlook continues to be bullish while trading takes place above 1.3170 support, for a break through 1.3321, en route to 1.3450. A violation of the 1.3170 support will clearly state, that the prolonged consolidation below 1.3321 is still underway.