With the pound now at its strongest, will it continue to climb? All eyes are on price movements during European trading hours.

With the pound now at its strongest, will it continue to climb? All eyes are on price movements during European trading hours.

04.12.2025

In the U.S. currency market the previous day, the U.S. dollar hit its weakest level from late Asian trading hours through U.S. trading hours.The AUD/USD pair rose from 0.6552 to 0.6602. The uptrend along the 10-period moving average (MA) on the hourly chart continued. On the 4-hour chart, the price continued to move along the +2σ line of the Bollinger Bands, and on the daily chart, it hit a new high for the month. The price has recovered to levels last seen at the end of October this year.

Among European currencies, the pound was the strongest during U.S. trading hours. The GBP/USD pair rose from 1.3198 to 1.3351. A “band walk” was observed along the +2σ line of the hourly Bollinger Bands.On the 4-hour chart, the 200 SMA is acting as a support level, driving the RSI up from 44 to 75. On the daily chart, the price has broken above the 200 SMA resistance line with a real-body candle.

Today’s economic indicators include Japan’s foreign and domestic securities investment at 8:50, Australia’s trade balance at 9:30,5:00 p.m. for Switzerland’s unemployment rate, 5:30 p.m. for Switzerland’s Manufacturing PMI, 6:30 p.m. for the UK’s Construction PMI, 7:00 p.m. for Eurozone retail sales, 9:30 p.m. for the U.S. Challenger job cuts, 9:45 p.m. for the UK’sremarks by an MPC member, at 22:30 U.S. initial jobless claims, at 24:00 Canada’s Ivey Purchasing Managers’ Index, at 24:30 U.S. weekly natural gas inventories, and at 26:30 remarks by Fed Vice Chair Bowman.With the pound at an all-time high, we’ll be watching price movements during European trading hours to see if it continues to climb.