News that UK service sector PMI came in slightly above expectations is supportive, but that was clearlycountervailed by evidence of deflation in shop prices from the British Retail Consortium for February. In short,domestic issues have restrained the bull case in the Pound, but an improvement in global economic sentiment ishelping the Pound claw out minor gains to start today. Therefore the bull camp in the Pound needs to see agenerally positive US private jobs report and or something positive from the US economic front in the coming 3session to push the Pound up and through the last months consolidation resistance zone of 1.6639 to 1.6767.
