Attention Turns to the Upside Potential for the GBP/USD Pair After Further Declines

Attention Turns to the Upside Potential for the GBP/USD Pair After Further Declines

15.07.2025

In yesterday’s U.S. trading session, the U.S. dollar traded in a narrow range against the euro. The EUR/USD pair fluctuated between 1.1654 and 1.1697, remaining within the range of the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair is facing resistance at the 20-MA, while on the daily chart, it is currently attempting to break below the 20-MA support line.We will need to watch for any directional movement today, as the market may continue to see a tug-of-war between bulls and bears during U.S. trading hours.

Among European currencies, the pound continued to decline against the U.S. dollar. The GBP/USD pair fell from 1.3503 to 1.3424. The decline occurred as the pair encountered resistance at the 20-period moving average on the hourly chart. On the 4-hour chart, the pair is moving along the -2σ line of the Bollinger Bands, and on the daily chart, it has nearly offset the sharp rally seen in the latter half of last month.

Today’s economic indicators include the UK BRC Retail Sales (same-store sales) at 8:01, the Australian Westpac Consumer Confidence Index at 9:30, the German ZEW Economic Sentiment Index and the Eurozone ZEW Economic Sentiment Index at 18:00, andIndustrial Production, 21:30: Canada Manufacturing Sales, U.S. Consumer Price Index, U.S. NY Fed Manufacturing Index, Canada Consumer Price Index, 22:00: Canada Existing Home Sales, 25:45: U.S. Fed Chair Barr’s remarks, and 26:00: U.S. Richmond Fed President Barkin’s remarks.We will cautiously monitor the potential for a rebound in the GBP/USD pair, which has continued to decline.

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