The Pound is drafting some support from overt weakness in the Euro, Swiss and Yen. In short, the Pound is winning by default and the Pound is also drafting residual support from a favorable retail sales result earlier this week. It also seems as if overall UK economic sentiment is being boosted by favorable global sentiment and by a measure of improved holiday sentiment. However, the Pound has significant overhead resistance on the charts and the strength of the Dollar has virtually robbed the Pound of its upside capacity.
