With the GBP/USD pair rebounding, all eyes are on whether it will hit a new high
26.11.2025
- Chicago Purchasing Managers' Index
- U.S. MBA Mortgage Applications Index
In the U.S. currency market yesterday, the Canadian dollar fell against the yen. The CAD/JPY pair dropped from 111.246 to 110.432. A downtrend has emerged along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair has pulled back after encountering resistance at the 20-period MA, while on the daily chart, the uptrend above the 20-period MA remains intact.
Among European currencies, the pound strengthened alongside the Japanese yen during U.S. trading hours. The GBP/USD pair rose from 1.3094 to 1.3213. An uptrend has emerged along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the price has pulled back to just below the 200-period exponential moving average (EMA), while on the daily chart, it has surpassed this month’s high. This marks a temporary rebound from the downtrend that has been in place since the end of June.
Today’s economic indicators include the RBNZ policy rate and statement at 10:00, a press conference by RBNZ Governor Hawksby at 11:00, the U.S. MBA Mortgage Applications Index at 21:00, U.S. initial jobless claims and U.S. durable goods orders at 22:30,at 11:45 PM, the U.S. Chicago PMI; at 12:30 AM, U.S. weekly crude oil inventories; at 2:00 AM, U.S. weekly natural gas inventories; at 3:00 AM, the U.S. 7-year Treasury auction; and at 4:00 AM, the U.S. Federal Reserve Beige Book. We will be watching closely to see if the GBP/USD pair, which has been rebounding, will break through its previous high.
Author: Keisuke Sakurai
