Should we keep an eye on the pound’s upside potential following its rebound?

Should we keep an eye on the pound’s upside potential following its rebound?

24.09.2025

In yesterday’s U.S. currency trading, the U.S. dollar fell against the yen. The USD/JPY pair rose from 147.920 to 147.456. It fell from the +2σ to the -2σ levels of the hourly Bollinger Bands. On the 4-hour chart, the pair is currently retesting the 200-period SMA. During today’s Asian session, the retest of the 4-hour 200-period SMA has been completed, and the price has risen to the 148 yen level.

Among European currencies, the pound saw a slight rebound against the U.S. dollar. The GBP/USD pair rose from 1.3487 to 1.3536. Price action was observed crossing the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, prices are trending upward with support from the 200-period simple moving average (SMA); however, during today’s Asian session, the daily chart has reverted to a downward trend, with prices capped by the 20-period MA.

Today’s economic indicators include the Australian Consumer Price Index at 10:30, Japanese Machine Tool Orders at 15:00, the German IFO Business Climate Index at 17:00, the U.S. MBA Mortgage Applications Index at 20:00, U.S. New Home Sales at 23:00, U.S. Weekly Crude Oil Inventories at 23:30,at 1:30 AM: UK MPC Green Member remarks; at 2:00 AM: US 5-year Treasury auction; and at 5:10 AM: US Daily: San Francisco Fed President remarks. We will carefully assess the upside potential of the pound, which has shown signs of a rebound.

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