A reversal of fortune on the charts, combines with discouraging UK Factory orders results overnight and that puts the bear camp back in control again. While the September Pound might find some support around the1.6808 level (a recent consolidation low zone) the Pound is also undermined by ongoing deterioration of globaleconomic prospects, which in turn are being fostered by weakness in equities. Some traders expect upcoming UKdata to diffuse an extension of the July and August slide in the value of the Pound, but a temporary return tolevels below 1.6750 has surfaced on the radar again.
