Market Analysis: BOE’s Breeden is scheduled to speak at 15:05 today, a highly anticipated event following the UK’s April CPI cooling to 2.8% (lower than expected). This drop in inflation lessens the urgency for further rate hikes. If Breeden strikes a dovish tone or emphasizes falling inflation, the Sterling could weaken, dragging GBPTHB down. However, if she maintains a hawkish stance focused on persistent inflation risks, market rate-cut expectations will dial back, strengthening the GBP.
Technical Outlook: The overall trend on the 4-hour timeframe (4H) remains a structural uptrend. Although the price has recently slipped below the EMA line, this is currently viewed as a brief short-term correction. Backed by the negative opening of the Thai stock market this morning, there remains a solid chance for GBPTHB to push back up and retest the resistance target at 43.79 – 43.81
Support Level : 43.70 – 43.68
Target : 43.79 – 43.81
Stop Loss : 43.67
Technical Outlook: The overall trend on the 4-hour timeframe (4H) remains a structural uptrend. Although the price has recently slipped below the EMA line, this is currently viewed as a brief short-term correction. Backed by the negative opening of the Thai stock market this morning, there remains a solid chance for GBPTHB to push back up and retest the resistance target at 43.79 – 43.81
Support Level : 43.70 – 43.68
Target : 43.79 – 43.81
Stop Loss : 43.67
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.