GBP/USD sees a pullback after recent highs as retail price data reveals ongoing deflation in shop prices. Despite a rise in food inflation, overall price pressures continue to ease. With economic risks mounting, expectations for a 25bps cut in interest rates by the Bank of England grow stronger. Markets now anticipate a full percentage point of easing over the coming year, shaping the outlook for GBP/USD in the near future. Investors should keep an eye on evolving economic indicators.