The Pound has managed to respect support around 1.6556 but the path of least resistance might bepointing downward in the face of negative global equity market sentiment and damage on the charts at the end oflast week. However, a lack of strong leadership action in the US Dollar and only modest gains in the Euro andSwiss this morning leave the Pound in a weak downward bias. Without some positive data flows from the UK inthe coming sessions, we can’t rule out a return to consolidation support down at 1.65.
