Should we keep an eye on the pound, which is showing strong support at lower levels?

Should we keep an eye on the pound, which is showing strong support at lower levels?

18.02.2022

The U.S. dollar weakened yesterday after the February Philadelphia Fed Business Outlook Index, released yesterday, came in at 16.0—below the market forecast of 20.0. The GBP/USD pair rose by approximately 80 pips from 1.355 to 1.363.Since GBP/USD has broken above the recent high of 1.361 on the 4-hour chart, we will be watching closely to see if it can break through the next target of 1.364 with a solid candle if the upward trend continues.

Among European currencies, the euro has been weakening against the pound, with the EUR/GBP pair falling from 0.837 to 0.833. The EUR/GBP pair has resumed its downward trend this month and is now approaching the weekly support level of 0.828; therefore, we will be closely monitoring whether this decline continues.

Today’s schedule includes UK retail sales, Turkish home sales, and the Turkish consumer confidence index at 16:00 European time; the French consumer price index at 16:45; Canadian retail sales at 22:30 US time; US existing home sales and the US leading economic index at 24:00; remarks by Fed Governor Waller at 24:45; and remarks by Evans:Chicago Fed President, at 1:00 AM (GMT+9): U.S. Williams, NY Fed President, and at 3:30 AM (GMT+9): U.S. Brainard, incoming Fed Vice Chair. Amid a weak U.S. dollar, we will be watching the movement of the pound, which has shown resilience on the downside.

Past Market Reports

1. 21.04.2026New

   With the euro-Australian dollar pair hitting new lows this month, attention is turning to how much further it might fall

2. 20.04.2026New

   Will the market wait and see how much further the U.S. dollar can rise against the yen?

3. 17.04.2026New

   Will the weakening Swiss franc recover? Attention is turning to price movements during European trading hours.

4. 16.04.2026New

   Market participants are likely keeping a close eye on the upside potential of the euro, which has risen against the U.S. dollar

5. 15.04.2026New

   Should we keep an eye on remarks by key figures in the U.S. and try to gauge the direction of currency strength?

6. 14.04.2026

   Market participants are likely watching for signs of a rebound in the Canadian dollar, which fell against the U.S. dollar following the release of employment figures

7. 13.04.2026

   Will the weakening Swiss franc continue to strengthen against the yen, or should we wait and see?

8. 10.04.2026

   Will the U.S. dollar, which has fallen against the yen, continue its downward slide, or should we wait and see how the market moves?

9. 09.04.2026

   Should we keep an eye on the upside for European currencies that have risen against the U.S. dollar?

10. 08.04.2026

    Market participants may be wary of further downside potential for the U.S. dollar, which has weakened amid concerns over the situation in Iran