The Pound was technically and fundamentally overdone at the February highs and the downshift inglobal economic expectations is not an insignificant influence directly ahead. A normal correction from theFebruary rally would project a nominal corrective slide down to 1.6601 and then again down at 1.6534.Cushioning the Pound against classic technical liquidation is news that February UK CBI Industrial Outputreadings improved relative to January and that leaves the UK economy as one of the brightest economicdestinations. As long as global equities avoid significant weakness and US data avoids noted weakness, theMarch Pound might be able to respect 1.66 as solid support.
