Reports of a decline in monthly UK grocery sales for the first time in 20 years might have been the resultof a foreign company inspired price war, but that news also hints at ongoing struggles in the UK economy.However, UK inflation readings came in a little stronger than was expected and that should provide a cushion tothe Pound today which in turn might be considered short term oversold and due a corrective bounce. With theDollar showing signs of faltering, that could give rise to a bounce in the December Pound to down trend channelresistance up at 1.5819.
