Core Viewpoint - The GBP/USD exchange rate is experiencing a volatile pattern, currently at 1.3278 with a daily increase of 0.16%, as market focus shifts to significant economic data releases from the UK and the US, along with remarks from Federal Reserve Chairman Jerome Powell, which may catalyze a breakout from the current consolidation range [1][3]. Economic Data Summary - The UK is set to release its Q1 GDP preliminary value, with market consensus expecting a rebound in quarter-on-quarter growth from 0.1% to 0.6%, while year-on-year growth may slow from 1.5% to 1.2%, indicating uneven domestic demand recovery [3]. - In the US, the focus will be on the April retail sales data and PPI inflation report, with expectations for core PPI year-on-year growth to decline from 3.3% to 3.1%, amid concerns over the impact of tariff policies on imported inflation [3]. Technical Analysis Summary - The GBP/USD is forming a new balance range around the 1.3300 level, with the 50-day EMA acting as a critical support line near 1.3100. The MACD indicator shows a bearish divergence, while the RSI remains above the neutral level of 50, suggesting no clear bias between bulls and bears [4]. - A breakout above the 1.3300-1.3320 resistance zone could lead to a renewed upward trend towards the 1.3400 level, whereas a drop below the 1.3200 support could trigger technical selling, targeting the 1.3100 area [4]. - Market participants are cautiously weighing the differing policy paths of the two economies, with the Bank of England maintaining a restrictive stance but facing rising rate cut expectations due to slowing wage growth and declining service sector inflation [4].