With general broad based global slowing views in a front and center standing to start the new trading week, slack UK mortgage approval rates and ongoing weakness in global equities, the Pound looks to extend itsrecent downside track toward the next critical support zone of 1.6150. The Pound is a recovery currency thatneeds positive sentiment and gains in global equities to rally and given the information facing the markets at thestart of the new trading week, we can’t rule out a near term slide back to the early September lows of 1.6039.
