FXstreet.com (Barcelona) - The hopes of an agreement carried on by the core countries in the euro zone, in order to impose more fiscal discipline and deepen the integration among the debtors members, are bolstering the single currency and the cable as market participants are shifting to riskier assets in today’s trading session.
The weakness exhibited by the US dollar is supporting the above, as the greenback is losing ground against its major rivals.

The OECD said that the BoE should raise its assets purchase programme (QE) by £125 bn in early 2012, as forecasts signal a recession in the UK in the first half of 2012

As of writing, the cross is up 0.01% at 0.8596 and trying hard to close in positive territory after 2 cosecutive sessions in red.
A breach beyond 0.8619 (high Nov.24) would expose 0.8647 (high Nov.23) then 0.8659 (MA 55d) and finally 0.8665 (high Nov.22).
On the flip side, the support levels lie at 0.8570 (hourly low Nov.28), 0.8546 (low Nov.25), 0.8518 (low Nov.18) and 0.8486 (low Nov.10).