Market participants are keeping a close eye on the euro’s upside potential against the pound

Market participants are keeping a close eye on the euro’s upside potential against the pound

28.10.2025

In yesterday’s U.S. currency trading, the U.S. dollar rose slightly against the yen. The USD/JPY pair climbed from 152.563 to 153.248. Price action was seen moving above the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the uptrend along the 10-period MA continues, and on the daily chart, prices are approaching this month’s high. Meanwhile, ahead of tomorrow’s FOMC meeting, the U.S. dollar has been weakening during today’s Asian trading session.

Among European currencies, the euro rose against the pound. The EUR/GBP pair climbed from 0.8719 to 0.8736. The price rebounded from the -2σ level of the hourly Bollinger Bands. On the 4-hour chart, the price has extended to the +3σ level of the Bollinger Bands, and on the daily chart, the 75-day moving average is acting as a support level, with the rebound continuing. Furthermore, the euro is continuing its upward trend during today’s Asian trading session.

Today’s key economic indicators include the German GfK Consumer Confidence Survey at 4:00 p.m., the U.S. S&P/Case-Shiller Home Price Index at 10:00 p.m., the U.S. Consumer Confidence Index and the Richmond Fed Manufacturing Index at 11:00 p.m., and the U.S. 7-year Treasury auction at 2:00 a.m. We will be closely monitoring the euro’s upside potential following its rise against the pound.

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