The Pound has given ground over the last two weeks off the threat of a let down in the global recoverytrack. However, the June Pound appears to have found some support around the 1.6603 level of late and atempering of Chinese slowing fears and less anxiety toward the Ukraine situation might be needed for the Poundto attempt to return to the 1.6750 level on the charts. As we have suggested a number of times, the Pound waspriced for economic good times on the run above 1.6750 and it could take a series of gains in global equitymarkets and a return to optimism for the bull trend in the Pound to surface again.
