I have seen many trade ideas about the Pound should bounce back and should climb much higher any minute now (week after week) I dont see that. Sure there will be pullbacks but there is still a lot of room to the downside - so I see no reason to go counter trend just yet. What I can see happen though is that the Bears get exhaused and we get more of a range trade for a while but for now I think the bears are still in control and aim lower.