Even the Pound has lost its edge this week, as the trade saw the Pound to be somewhat inflated off avery definitive macro economic vibe around the middle of this month. Therefore, given the tempering of globaleconomic expectations, lingering emerging market concerns and a sustained Chinese holiday, the Pound isprobably being seen as the most overvalued currency from a fundamental perspective. While the generallyfavorable UK economic situation should underpin the currency above significant support down at 1.6301, thetrade is apparently content to balance the technical picture and bring the March Pound back down toward uptrend channel support at 1.6393.
