Should We Keep an Eye on the Pound’s Upside Potential Following Its Rebound?
24.09.2025
- U.S. MBA Mortgage Applications Index
- U.S. Daily: Remarks by the President of the San Francisco Federal Reserve Bank
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 SMA. During today’s Asian trading session, the retest of the 4-hour 200 SMA was completed, and the price has risen to the 148 yen level.
Among European currencies, the pound rebounded slightly against the U.S. dollar. The GBP/USD pair rose from 1.3487 to 1.3536. Price action was seen crossing the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, prices are trending upward, supported on the downside by the 200-period simple moving average (SMA); however, during today’s Asian trading session, the daily chart has reverted to a downward trend, with prices capped on the upside by the 20-period moving average (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, remarks by a Green MPC member from the UK at 25:30, a U.S. 5-year Treasury auction at 26:00, and remarks by the President of the San Francisco Fed at 29:10.We want to carefully assess the pound’s upside potential following its recent rebound.
Author: Keisuke Sakurai
