A stair step pattern of lower lows and lower highs in the Pound would seem to leave the bear camp witha slight edge to start the new trading week. Surprisingly a positive service sector optimism reading wasdiscounted this morning. An issue that has generally failed to lend distinct support to the Pound this morning isnews of a large decline in Euro zone inflationary pressures. In short, the Pound has slipped lower on the charts,despite G20 calls for global stimulus and a slight tempering of anxiety in the Ukraine. Pushed into the Pound, wewould favor the downside, as choppy to mixed global equity market action sets the stage for more correctiveaction ahead.
