The Pound remains off balance despite news of a fairly strong 2nd quarter GDP result overnight and inthe face of disappointing German Ifo results. In short, the Pound continues to fall despite fundamental conditionsthat should have provided fresh capital flow toward the Pound. Critical up trend channel support would fail with aslide below 1.6949 today and another fresh failure might be seen with a slide below the 50 day moving averagedown at 1.6939.
