With the pound now at its strongest, all eyes are on price movements during European trading hours to see if it will continue to climb

With the pound now at its strongest, all eyes are on price movements during European trading hours to see if it will continue to rise

04.12.2025

In the previous day’s U.S. currency trading, the U.S. dollar hit its weakest point 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 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 reached 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-period 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-period 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, Switzerland’s unemployment rate at 17:00, Switzerland’s manufacturing PMI at 17:30, the UK’s construction PMI at 18:30, and the Eurozone’s retail sales at 19:00,U.S. Challenger Layoffs at 9:30 PM, remarks by a Bank of England MPC member at 9:45 PM, U.S. Initial Jobless Claims at 10:30 PM, Canada’s Ivey PMI at midnight, U.S. Weekly Natural Gas Inventories at 12:30 AM, and remarks by Fed Vice Chair Bowman at 2:30 AM.With the pound at its strongest, we will be watching price movements during European trading hours to see if it continues to climb higher.