The Pound has managed to extend the January consolidation above the 1.50 level and the Pound has also managed to hold up this morning in the face of somewhat discouraging UK CBI Industrial output figures. In directly the Pound has benefited from the ongoing wave of easing from a series of foreign central banks, but in order to forge a sustained bottom and carve out a series of gains ahead, clearly requires a sustained improvement in global economic sentiment. Critical support in the March Pound is seen at a recent pivot point of 1.5134. The trend in the Pound ahead is probably tied to the direction of US equities!
