While some might have expected the UK services PMI data to support the Pound today, the data was disappointing and that adds into an already damaged short term chart condition. With other bright spots seen in the UK economy recently, that should help to cushion the Pound against further aggressive corrective action ahead. A normal retracement of the January and February rally in the Pound allows for a dip back to 1.5320 without damaging the 2015 uptrend pattern.
