The bull camp has to be partially cheered by the Pounds ability to carve out some upside action in the wake of scheduled UK growth data that was barely positive. However, the Pound probably saw some minorspillover buying from traders vacating Dollar positions in the wake of another US Ebola infection. The bull campmight be partially cheered by the capacity to respect the 1.60 level and perhaps the Pound is also indirectlyderiving some support from the recent outsized gains in global equities. However, in order to call a turn away fromthe nearly 4 month old down trend pattern probably requires a rise above down trend channel resistance of1.6179, but that down trend channel resistance line falls to 1.6116 on Monday.
