The Pound isn’t showing as much strength as one might expect in the wake of January UK CBIIndustrial output figures, perhaps because other components within that report were suspect. In fact, UK industrialexports were sharply lower, Order book balance was negative and Export prospects were minimally reduced.Therefore the longs are somewhat disappointed to start and the strength in the Dollar is adding in an addedburden to the long side of the Pound. Fresh longs might wait for a slide back to uptrend channel support down at1.6311 to get long. That up trend channel support line rises to 1.6344 by this coming Friday.
