The Pound continues to erode on its charts with a fresh lower low for the move overnight. Data from the CBI on June retail sales volumes in the UK adds to the downside tilt with those figures markedly weaker than theprior month’s tally. However, statements from the BOE recently suggesting they will be very careful in raisingrates, continues to weigh on the Pound. Near term downside targeting in the September Pound is seen down at1.6925 and perhaps not until the 1.6897 level.
