The British pound has begun to correct its three-month old downtrend and it’s during the past three days that the talk of a pound reversal has found an audience. Do three sessions of higher highs justify reversal talk or is this simply an opportunity for the bears to pile back in? Trends seldom shift in just a day…or three. Even the corrections that triggered with the Italian election surprise re-discovered their trends or at least the yen weakness. So should pound sterling bears reconsider their bias? I say no. In fact, I continue to look for those imbalances where the pound could continue to be outpaced by the ... (full story)