While the Pound showed some impressive recovery action on Tuesday, the inability to sustain near theJuly highs and the subsequent slide on the charts points to a loss of upside momentum. One might haveexpected the Pound to have indirectly benefited from the fresh Russian sanctions but instead the Pound isshowing signs of a quick return to recent consolidation lows of 1.7076. An even lower downside targeting is seendown at 1.7050 and a return to those levels might foster talk of a decline to an up-trend channel support line downat 1.6927.
