Will the pound, which has risen against the U.S. dollar, continue to climb, or should we wait and see?

Will the pound, which has risen against the U.S. dollar, continue to climb, or should we wait and see?

23.12.2025

In U.S. trading yesterday, the U.S. dollar fell against the yen. The USD/JPY pair dropped from 157.699 to 156.717. On the hourly chart, the price has moved from above the 20-period moving average (MA) to below it. On the 4-hour chart, the RSI has plummeted from 78 to 44, and on the daily chart, the price is currently pulling back from the +3σ line of the Bollinger Bands. We will be watching closely to see if the price continues to test lower levels during today’s U.S. trading session.

Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.3372 to 1.3477. A band walk along the +2σ line of the hourly Bollinger Bands was observed. The 4-hour chart also showed a band walk along the +2σ line of the Bollinger Bands, similar to the hourly chart, and the daily chart has recovered to levels not seen since October of this year.

Today’s economic indicators include the release of the RBA minutes at 9:30 AM, Japanese machine tool orders at 3:00 PM, the German import price index at 4:00 PM, U.S. real GDP at 10:30 PM,U.S. Core PCE Deflator, Canada’s Real GDP, U.S. Industrial Production, U.S. Capacity Utilization, U.S. New Home Sales at 12:00 AM, U.S. Richmond Fed Manufacturing Activity Index, U.S. Conference Board Consumer Confidence Index, and a U.S. 5-Year Treasury Auction at 3:00 AM. I’d like to watch carefully to see if the pound, which has risen against the U.S. dollar, will extend its gains.

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