Will the direction of the GBP/USD pair, which has been trading sideways, become clear? Keep an eye on price movements.

Will the direction of the GBP/USD pair, which has been trading sideways, become clear? Keep an eye on price movements.

12.08.2025

In yesterday's U.S. currency markets, the U.S. dollar rose against the euro. The EUR/USD pair fell from 1.1675 to 1.1590.On the hourly chart, prices fell from the +2σ to the -3σ levels of the Bollinger Bands. On the 4-hour chart, prices are currently facing resistance at the 200-period SMA, while on the daily chart, both highs and lows are declining, indicating a potential bearish flag pattern. On the weekly chart, prices are on the verge of breaking below the 10-period MA, which has been acting as support, so traders should pay close attention to price movements during European trading hours.

Among European currencies, the pound traded in a narrow range against the U.S. dollar. The GBP/USD pair fluctuated between 1.3399 and 1.3476. Price action lacked direction as it moved back and forth across the 20-period moving average on the hourly chart. On the 4-hour chart, the pair has pulled back at the 200-period moving average overhead, and on the daily chart, it is currently forming lower highs within the downtrend that began last month.We will be watching to see if the pound regains momentum during today’s U.S. trading session.

Today’s schedule includes UK BRC same-store sales at 8:01, Japan’s money supply at 8:50, Australia’s NAB Business Confidence at 10:30, the RBA policy rate decision and statement at 13:30, RBA Governor Bullock’s press conference at 14:30, UKEmployment Report at 15:00, Germany’s ZEW Economic Sentiment Index and the Eurozone’s ZEW Economic Sentiment Index at 18:00, South Africa’s Employment Report at 18:30, the U.S. Consumer Price Index and Canada’s Housing Starts at 21:30, and remarks by U.S. Federal Reserve Bank of Kansas City President Schmidt at 23:30.We will be watching price movements during U.S. trading hours to see if the direction of the range-bound GBP/USD pair becomes clear.

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