The Pound has managed to respect its 50 day moving average in the wake of mostly positive US data,signs of strong Chinese exports and favorable German Export news. In short, generally positive global economicnews combined with many equity measures remaining within striking distance of new all-time highs, leaves justenough optimism in place to allow the Pound some additional modest gains on its charts. With the Pound seen asa recovery currency and the most likely to hike rates first, the path of least resistance is pointing upward in thePound.
