The Pound has restarted its downward motion on its charts in the wake of a dampening BOE inflation/wage outlook. Also pressuring the Pound is disappointing Chinese economic data and the fear of moreknock-on global slowing influences from the Ukraine situation. The bull camp has to be very discouraged by thePound’s lack of bounce following reports that UK unemployment fell to the lowest level since 2008 in July!Therefore the next downside target for the Pound is seen down at 1.6680 and resistance should now be solid at1.6750.
