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 the previous day'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 on the hourly Bollinger Bands. On the 4-hour chart, the pair is currently retesting the 200-period SMA. During today's Asian trading 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 moving across 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 returned to a downtrend, 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 23:30,2:30 AM: Remarks by a Green MPC member (UK), 3:00 AM: US 5-year Treasury auction, and 5:10 AM: Remarks by the President of the San Francisco Fed. We will carefully assess the upside potential of the pound, which has shown signs of a rebound.
Author: Keisuke Sakurai
