We are a little surprised in the lack of strength in the Pound this morning, in the wake of mostly upbeateconomic sentiment flow and hopes that Russia might pull back some troops and diffuse anxiety in the Ukraine. Infact, the June Pound appears to have violated a recent up-trend channel support line at 1.6871. Maybe the Poundtrade isn’t buying into the improved economic view, or perhaps the June Pound simply needs to build moreconsolidation down around 1.6750 more before launching into its next upside wave.
