Circular object with a ring of white lights around its edge and coloured strobe flashing lights spaced around it hovering for an hourI saw through my window tonight, a flashing, muli-coloured light south of where I live.I told my partner to come look, he went and got binoculers and observed from first the front patio and then from the roof terrece. All the time the object hovered in almost the same spot, ( south of us and about 4 hundred yards up and 2 to 3 hundred yards south of us.) I too came on to the front patio and watched theobject through the binoculers.Tonight the sky is totally clear of cloud, stars can be clearly seen, and no lights from other houses, street lights or city lights obscure the sky.Through binoculers, the image is clear enough to make out that it is circular in shape, tilting edge on and then slowly tilting to show a round shape, it has a circlemade up of white lights and about five to six coloured lights spread evenly around its edge, ( these range from blue, red, green and yellow). It is still there now as I type, another similar object appeared and then moved of lower then the one we can still see. We are on the flight approach to Valencia airport, ( 22 miles away), so we are used to seeing lights from planes and helicopters day and night, this is definately not either of them or a weather balloon, it's too clear and bright to mistake it for anything other then what it is, a strobe like flashing circle! It has just gone now, so we have watched it for over an hour. We are in our fifties, have not been drinking or taken any drugs for medication or recreation, I am a interior designer and my partner is a garden designer. He has a lot of knowledge of space, science and things real. I also have a real world knowledge, and we are both level headed.