Into the early February highs the Pound appeared to be priced for perfection. While macro economicviews toward the US have improved recently, sentiment toward China and the Ukrainian situation havedeteriorated and that makes highly valued instruments like the Pound vulnerable to extensive liquidation. At leastin the coming session the path of least resistance looks to remain down in the Pound and it could take somepositive economic news from China overnight or an acceptance of the Crimea becoming part of Russia to reversethe downside tilt in the Pound.
