With a BOE meeting seeing no change, traders might expect a bit of volatility to end this week. Certainlythe recent correction in the Pound has reduced the overbought status and it has also tempered the straight awayglobal recovery expectation. While we can’t rule out a temporary return to a quasi double bottom low around1.6252 in the March Pound, we also can’t rule out a slide down to the early December low of 1.6203 in the eventthat US data over the coming two session’s fails to rekindle global recovery expectations.
