GBP/USD lost 2%, or 304 pips, this week. The pair was up 70 pips through Wednesday but the dovish rhetoric from Carney led to a two-day rout.
The weekly chart now shows a broken series of higher lows after 1.5000 broke. In all likelihood, this will be the lowest weekly close since 2010. Critical support is at the March low of 1.4832.
Cable weekly chart
If the Fed continues to talk about tapering and Carney sticks with the dovish agenda, we could be talking about the low 1.40s very quickly.