So far, the Pound hasn’t been able to throw off a negative track on the charts and that is largely theresult of the compacted jump in the Dollar. However, the Pound is a “recovery currency” and it was probablypriced for definitively positive global growth at the February and March highs, and therefore seeing the Fed taper,seeing lingering concerns toward the Chinese economy and seeing residual concerns toward the Russiansituation, simply leaves the Pound in a liquidating posture. Like copper, equities and the Dollar, the Poundprobably needs to see something positive from the US economic report slate to end up respecting consolidationsupport on the charts of 1.6500.
