Greetings Everyone, and Welcome to Thursday!

We look a bit ahead today and tomorrow with some significant Data Point Releases that may give The Queen some Impetus to really break it’s larger Time-Cycle Areas of Consolidation.

Retail Sales out of The U.K. brings the spotlight to The Queen, as Consensus calls for a slight Build in Retail Sales… despite the very fragile British Consumer Sentiment Outlook.

(For additional Information on this Data Point, please have a look at “Retail Sales” , among my other Releases, in the new “Fundamental Forex Foundations” Section).

Preliminary GDP is to follow on Friday, which is also looking for a Positive Build… however so slightly it may be… and we will get to this Release in a later Post.

Even with the relatively “Positive” Sentiment out of The MPC, we are still working a 6-Week Range on The Daily View… with Static Support at the 1.6000 Handle and Resistance at the 1.6600 Handle.

I also have a “Mid-Term Dynamic Range” here that will give us a bit more Clarity with Dynamic Support at 1.62000 and Dynamic Resistance at  about 1.6665… although we can still see a rather “Clean” Range of Behavior here.

Give The Captures a Click as always, and Post-Time is 2:00 GMT.

The Hourly View for all of my IntraDay Friends provides a bit more Short-Term Probability with a decent 150-Pip Range to the Downside, and a Dynamic Support Area with 1.6440 Magenta Trendline of the Daily Dynamic Channel to “Bounce” off of if the Area holds for Price Appreciation.

It will be interesting to see if the “slightly positive” Consensus of Retail Sales will actually move the Unit into one of these two “Scenarios”… or if we may simply get a purely Technical Move to simply get out of The larger Range Itself.

Just like The Queen Herself… Price can also be a bit “Impatient”, can’t it!       

We will check back with plenty of more Updates, so please feel free to join me!