The Pound is derailed by resurgent Greek troubles, renewed tensions in Ukraine and in part because of strength in the Dollar. Unfortunately for the bull camp in the Pound, the currency is not seeing any benefit from news of the biggest UK budget surplus result since 2008 perhaps because of news of a 0.3% decline in January UK retail sales. In fact, seeing the largest monthly decline in UK store prices ever for the month clearly rekindles slowing fears inside the UK! Fresh chart damage projects an extension down to 1.5313.
