Will the pound, now at its strongest, maintain its momentum? Keep a close eye on price movements during European trading hours.

Will the pound, now at its strongest, maintain its momentum? All eyes are on price movements during European trading hours.

16.10.2025

In the U.S. currency market yesterday, the U.S. dollar fell against the euro. The EUR/USD pair rose from 1.1601 to 1.1647. The uptrend along the 20-period moving average on the hourly chart continued.On the 4-hour chart, the price broke above the 75-period moving average (MA), which had been acting as resistance, without pausing. On the daily chart, the candlesticks are currently retracing from the -2σ line of the Bollinger Bands back toward the centerline.

Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.3313 to 1.3405. It climbed along the 20-period moving average (MA) on the hourly chart to reach the 200-period simple moving average (SMA).On the 4-hour chart, the pair has broken through the upper resistance zone formed by the 75-period moving average (MA), and on the daily chart, a retracement from the 200-period exponential moving average (EMA) to the 20-period MA is observed. Furthermore, the pair has continued to rise during today’s Asian trading session and has already broken above the 200-period SMA on the hourly chart with a real-body candle.

Today’s schedule includes Japan’s machinery orders at 8:50, Australia’s employment statistics at 9:30, remarks by Bank of Japan Board Member Tamura at 10:30, Japan’s Tertiary Industry Activity Index at 13:30, the UK’s monthly GDP at 15:00, the UK’sIndustrial Production, UK Manufacturing Output, and UK Trade Balance; at 18:00, the Eurozone Trade Balance; at 21:15, Canadian Housing Starts; at 21:30, the U.S. Philadelphia Fed Business Outlook Index;22:00: Remarks by Fed Governor Barr (U.S.); 23:00: NAHB Housing Market Index (U.S.) and remarks by Fed Vice Chair Bowman (U.S.); 25:00: Weekly crude oil inventories (U.S.) and remarks by ECB President Lagarde (EU).We will be closely watching price movements during European trading hours to see if the pound, which has reached its strongest level, can maintain its momentum.