A pattern of lower lows has been extended overnight and that isn’t surprising in the wake of slightlydiscouraging Chinese and Euro zone data. It is also likely that fears of slowing off the prospect of additionalRussian sanctions, is adding into the pressure on the Pound. Like the Swiss and Euro, the Pound is seeingclassic technical knock on selling pressure and that could set the stage for a retest of the 1.64 level this week.
