Will the pound, which has been weakening, stage a recovery? All eyes are on price movements during U.S. trading hours.

Will the pound, which has been weakening, stage a recovery? All eyes are on price movements during U.S. trading hours.

11.03.2025

The U.S. dollar traded in a narrow range against the euro yesterday.The EUR/USD pair traded between 1.0804 and 1.0873. Price action fluctuated around the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair continues to trade above the 20-period MA, and on the daily chart, the RSI has reached 73, breaking through the upper resistance zone formed by the 200-period SMA in one go. We will need to watch for any directional shifts, particularly whether a temporary correction occurs on the longer-term charts during European trading hours.

Among European currencies, the pound weakened the most after the Oceania currencies. The GBP/JPY pair fell from 191.086 to 189.189. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the price has pulled back from the 200-period simple moving average (SMA), and on the daily chart, the 200-period exponential moving average (EMA) is acting as a resistance level. We will be watching closely to see if the pound’s weakness continues during U.S. trading hours.

Today’s economic indicators include: Japan’s Household Expenditure Survey and Australia’s Westpac Consumer Confidence Index at 8:30; Japan’s second preliminary estimate of real GDP, GDP deflator, and money supply at 8:50; the UK’s BRC same-store sales at 9:01; and Australia’sNAB Business Conditions Survey, at 15:00 Japan’s Machine Tool Orders, at 19:00 the U.S. NFIB Small Business Optimism Index, at 23:00 the U.S. JOLTS Job Openings, and at 26:00 the U.S. 3-Year Treasury Auction. We will be watching price movements during U.S. trading hours to see if the pound, which has been weakening, will recover.

Past Market Reports

1. 17.04.2026New

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

2. 16.04.2026New

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

3. 15.04.2026New

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

4. 14.04.2026New

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

5. 13.04.2026New

   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

6. 10.04.2026

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

7. 09.04.2026

   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?

8. 08.04.2026

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

9. 07.04.2026

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

10. 06.04.2026

    Investors should be wary of sudden spikes in volatility while major markets are closed