GBPUSD

The British Pound reached a six-month high of 1.3290 against the USD after Powell's speech, but then declined to the 1.3230 level. However, this strength continues despite the general inflation in the UK falling from 2.8% in March to 2.6%, core inflation decreasing from 3.5% to 3.4%, and service sector inflation declining more than expected from 5% to 4.7%. While this data supports the view that the Bank of England may cut interest rates in May, the GBP/USD remains strong due to broad USD weakness. Technically, pullbacks are expected to be limited, and trading based on intra-day support levels is deemed appropriate.