GBPTHB UK Inflation Eases but Cost Pressures PersistBRITISH POUND / THAI BAHTFX_IDC:GBPTHBYES_Group Market Analysis: Yesterday, the GBP faced downward pressure after the UK’s inflation data came in lower than expected, with April CPI at 2.8% (vs. 3.0% expected and 3.3% prior). Core CPI also dropped to 2.5% (vs. 2.6% expected and 3.1% prior), reflecting a clear easing of inflationary pressures in the UK. Furthermore, both RPI and Core RPI slowed down, reinforcing the view that the Bank of England (BOE) may not need to rush into further rate hikes. However, production costs remain high, with PPI Input surging to 7.7% (vs. 5.9% expected and 5.3% prior) and PPI Output hitting 4.0%, also above expectations. This suggests that manufacturing input costs still carry inflationary risks, which could prompt the BOE to maintain a hawkish policy stance despite the cooling consumer CPI. Tonight, the market will closely monitor BOE Governor Andrew Bailey’s speech at 22:00 (Thai time) for his stance on yesterday’s softer CPI data. If Bailey signals that inflation is cooling and further rate hikes may not be necessary, the GBP could weaken, dragging GBPTHB lower. Technical Outlook: The overall technical picture on the 4-hour timeframe (4H) continues to move in a “Sideway Up” pattern. In the short term, the price has rebounded to stand above the EMA lines once again. Meanwhile, the MACD has crossed up and the Histogram is recovering continuously, reflecting returning buying momentum. Additionally, the RSI has climbed above the midpoint, supporting the chance for GBPTHB to retest the resistance zone around 43.83–43.87. Furthermore, if the Thai stock market (SET) opens in negative territory this afternoon, it could provide a supportive boost to the GBP. Stop Loss : 43.71 Support Level : 43.72–43.74 Target : 43.83–43.87