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Greetings again, Everyone!
Our two “New” Friends, Accumulation and Consolidation, seem to be replacing our “Old” Friends, Risk Aversion/Risk Appetite, as our “Favorite Words of the Day” lately!
The British Pound Units are perhaps the finest Example of this current Momentum, as Price on the GBP/USD and the Pound Crosses simply refuses Directionality to one Side or the Other!
Did You Hear That???…
“The Queen Shall Not Abdicate The Throne!”… hee hee hee… 
A Catalyst certainly may be on the way in an Hour, as U.K. Retail sales may jump start The Queen out of Her peaceful Slumber up there in the 1.5750’s Area.
Price is Over-Extended at this Point, as a Corrective Retracement is certainly due.
Retail Sales looks to slightly Increase, which will provide additional Buoyancy for the Unit… and even a “Shallower” Retracement in the 1.5720’s/00’s may find Buying Pressure coming in as well.
While we hold the same Commentary on the Capture… the “Key” Inflection Point of Correction in my personal View is the 1.5450’s Area. The Probability of Bullish Builds is certainly High at this Area… as The Queen does not appear to be finished with Bullish Momentum in the Near-Term.
Here is the Capture, so give it a Click for Commentary.
Post-Time is 7:40 GMT.
We will certainly return to monitor Price Action here, and for more Immediate-Term Detail of the Accumulation/Consolidation Cycles in the Majors, have a look at the “Currency Majors Technical Perspective” Report just published !
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