Market Participants May Be Watching for the Pound's Potential Rebound After Its Decline Against the Yen
28.11.2025
- France: Consumer Price Index
- Canada · GDP
In the U.S. currency market yesterday, the U.S. dollar rose against the euro. The EUR/USD pair fell from 1.1613 to 1.1576. On the hourly chart, the price moved from the +2σ to the -2σ Bollinger Band.On the 4-hour chart, the pair is declining as it retests the 200-period SMA, while on the daily chart, it is finding support at the 20-period MA but facing resistance at higher levels. Meanwhile, on the weekly chart, the pair is teetering on the brink of breaking below the 20-period MA support line.
Among European currencies, the pound fell against the yen. The GBP/JPY pair dropped from 207.199 to 206.432.Price action remained within the range of the 20-period moving average on the hourly chart throughout the session. On the 4-hour chart, the pair has pulled back from the +3σ level of the Bollinger Bands, and on the daily chart, the RSI has reversed after touching 70. Although the pair attempted a rebound during today’s Asian session, resistance at higher levels remains strong.
Today’s economic indicators include: at 8:30, Japan’s Consumer Price Index (Tokyo Metropolitan Area) and unemployment rate; at 8:50, Japan’s industrial production and retail sales; at 9:30, Australia’s private sector credit; at 14:00, Japan’s housing starts; and at 16:00, Germany’sretail sales; at 14:45, France’s Consumer Price Index, Producer Price Index, and Q3 GDP; at 17:00, Switzerland’s KOF Leading Index and Q3 GDP; at 17:55, Germany’sunemployment rate at 17:55, remarks by German Bundesbank President Nagel at 19:00, German Consumer Price Index at 22:00, and Canadian GDP at 22:30. We will be closely watching for any potential recovery in the pound, which has pulled back against the yen.
