Like the Swiss, the Pound has benefited from the modest improvement in overall macro economicsentiment this week. However, without a positive but not too positive US payroll result, the recent rise in thePound might be reversed. One might suggest that 4th quarter UK industrial Production readings were a littlediscouraging for the Pound overnight, but the Pound needs to see signs of ongoing growth in the US to resumethe up trend pattern that has been in place since last July! Up trend channel support is seen today down at1.6266. We would suggest that traders consider the purchase of a March Pound futures at 1.6336 this morningbut traders should also consider some temporary protection against that long in the form of a long March Pound1.6250 put.
