The Pound remains in a wounded chart condition this morning and that might be the result of generally positive US economic data, improved economic sentiment toward the Euro zone (largely because of temperingUkraine fears) and also because of domestic political issues regarding Scotland. Therefore we suspect that thePound is destined to remain in a downward bias and that bias looks to be accentuated by positive US data and orby signs of aggressive easing by the ECB. Remain bearish toward the Pound until it manages a recovery backabove 1.65.
