The pound was recovering against the euro in foreign exchange trading this morning (September 22nd) after slumping to a five-month low yesterday.However, analysts are sceptical about continued support for sterling amid gloomy economic data and concerns about the stability of the UK financial system.Calyon analyst Mitul Kotecha told Dow Jones Newswires that upward movements in sterling trading is also likely to be limited by the Bank of England's (BoE's) announcement that the currency's long-run sustainable exchange rate may have dropped due to the economic crisis."GBP has been a clear underperformer over recent weeks as speculation intensifies that the BOE will cut interest rates it pays on bank reserves. It is difficult to see any recovery over the short term," he said.Meanwhile FX Street has categorised the GBP/USD Trend Index as slightly bullish, with resistance against the greenback expected at the $1.6345 mark.At 06:45 GMT, sterling was trading at $1.6285, recovering from a two-week low against the dollar.