Now that the correction has brought the Pound back to the lowest levels in nearly 2 1/2 months and thePound has shown the capacity to bounce, we have to think solid value has been found. Certainly the Poundneeded to be deflated in the wake of the negative shift in global economic sentiment, but the UK economy mightbe better positioned to hold together in the face of “minor” economic headwinds, especially with UK Januarymanufacturing PMI managing to expand for the 10th straight month overnight! Pushed into the market we favorthe long side of the Pound from 1.6301, using a stop on that position below 1.6250.
