Market participants are watching to see if the rebound in the GBP/USD pair will hold

Market participants are watching to see if the rebound in the GBP/USD pair will hold

17.07.2025

In yesterday’s U.S. currency markets, the U.S. dollar fell against the euro after the U.S. June Producer Price Index (PPI), released yesterday, showed a year-over-year decline from 2.6% in the previous month to 2.3%, with the core index—excluding food and energy—also falling.The EUR/USD pair rose from 1.1563 to 1.1721. Price action was observed crossing the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the 200-period simple moving average (SMA) is acting as support, leading to a rebound, while on the daily chart, the pair is currently attempting to rebound after breaking below the 20-period MA.

Among European currencies, the pound rebounded against the U.S. dollar. The GBP/USD pair rose from 1.3365 to 1.3485. It rebounded from the -3σ to +3σ levels on the hourly Bollinger Bands. On the 4-hour chart, the RSI recovered from 21 to 38. On the daily chart, this marked the first rebound in five trading days. However, as the pound has weakened again during today’s Asian session, traders should pay close attention to price movements during the European session.

Today’s schedule includes Japan’s customs-based trade balance and foreign/domestic securities investment at 8:50, Australia’s employment statistics at 10:30, the UK’s ILO unemployment rate and employment statistics at 15:00, the Eurozone’s consumer price index at 18:00, U.S. initial jobless claims and Canada’s international securities turnover at 21:30, and U.S. retail sales,U.S. Import Price Index, U.S. Initial Jobless Claims, at 10:15 PM: Remarks by Fed Governor Kuehler, at 11:00 PM: U.S. Business Inventories, U.S. NAHB Housing Market Index, and at 2:30 AM: Remarks by Fed Governor Cook. We will closely monitor the sustainability of the rebound seen in the GBP/USD pair.

Past Market Reports

1. 22.04.2026New

   Will interest grow in the upside potential of the Swiss franc, which has risen against the yen?

2. 21.04.2026New

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

3. 20.04.2026New

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

4. 17.04.2026New

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

5. 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

6. 15.04.2026

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

7. 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

8. 13.04.2026

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

9. 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?

10. 09.04.2026

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