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Will the pound, which has weakened against the U.S. dollar, recover, or should we wait and see?

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Will the pound, which has been weakening against the U.S. dollar, rebound, or should we wait and see?

26.08.2025

Today's Highlights
  1. Japan Corporate Services Price Index
  2. Richmond Fed Manufacturing Index (U.S.)

In U.S. currency trading the previous day, the U.S. dollar reached its strongest level during U.S. trading hours after the U.S. July new home sales figure, released yesterday, came in at 652,000—exceeding market expectations of 629,000 and rising from the previous month’s 627,000.The USD/JPY pair rose from 146.779 to 147.903. On the hourly chart, the price moved from below the 20-period moving average (MA) to above it. On the 4-hour chart, the price recovered to around the midpoint of the range of last weekend’s sharp decline, while on the daily chart, it returned to just below the 20-period MA.

Among European currencies, the pound fell against the U.S. dollar. The GBP/USD pair dropped from 1.3528 to 1.3447, breaking well below the support line formed by the 200-period simple moving average (SMA) on the hourly chart.On the 4-hour chart, while the 200 SMA is acting as a support level, the price has pulled back from the +2σ line of the Bollinger Bands; on the daily chart, the price is in the process of forming lower highs since early last month.

Today, the Japanese Corporate Services Price Index will be released at 8:50, the RBA minutes will be published at 10:30, U.S. durable goods orders will be released at 21:30, the U.S. second-quarter housing price index and the S&P/Case-Shiller housing price index will be released at 22:00,at 23:00, remarks by a member of the Bank of Manchester’s Monetary Policy Committee (MPC), the U.S. Richmond Fed Manufacturing Index, and the U.S. Conference Board Consumer Confidence Index; at 26:00, a U.S. 2-year Treasury auction; and at 27:30, remarks by Bank of Canada (BOC) Governor Macleam.I’d like to wait and see whether the pound, which has been weakening against the U.S. dollar, will show signs of recovery.

桜井 慶介

Author: Keisuke Sakurai

He has over 10 years of experience in FX trading. In the financial sector, he has been involved in investment management focused primarily on foreign exchange markets and has experience as an asset management advisor. Drawing on his extensive experience, he specializes in technical and fundamental analysis.

Previous Article

Should we focus on the downside potential of the U.S. dollar, which fell following comments from the FOMC last month indicating a willingness to cut rates?

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Will the market continue to lack direction following the recent decline? Should we take a wait-and-see approach to the EUR/AUD pair?
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