FXstreet.com (Barcelona) - According to Melinda Burgess, FX strategist at RBS: "GBP has shown surprising resilience since the BoE’s QE expansion. Rate spreads have shifted back in favour of GBP but correlations still show a stronger relationship with risk sentiment. With the G4 making moves to further support their economies, this may support wider risk appetite." Hence, Bernanke’s semi annual testimony this week is important. "A greater inclination towards QE3 can see GBP/USD squeeze higher, particularly if 1.5606 can be breached. Solutions to the Euro area crisis still remain unclear and EUR headwinds look to be re-building. Risks skewed to further EUR/GBP declines, although weak UK fundamentals argue against significant GBP gains." She said.