The Pound was overbought technically into the recent highs. Some might suggest that the Pound wasoverbought fundamentally into the recent highs and therefore the bulls in the Pound probably need to see evenmore impressive economic readings from the UK just to reverse the downward pattern on the charts. Given theprospect of positive US scheduled data again today, we can’t throw off the bearish bias in the Pound. There is anup-trend channel support line in the June Pound today at 1.6805.
