Will the range-bound GBP/USD pair break out, or will we wait and see how it moves during U.S. trading hours?

Will the range-bound GBP/USD pair break out, or will we wait and see how it moves during U.S. trading hours?

30.01.2026

In yesterday's U.S. currency trading, the U.S. dollar fell against the yen. The USD/JPY pair traded between 152.672 and 153.534, with price action fluctuating around the 20-period moving average (MA) on the hourly chart.On the 4-hour chart, the pair is breaking above the 20-period moving average (MA), which had been acting as resistance. On the daily chart, while the 200-period exponential moving average (EMA) is functioning as support, the upside remains heavy. Notably, during today’s Asian session, the pair reversed course without testing yesterday’s low and has since made a new high.

Among European currencies, the pound traded sideways against the U.S. dollar. The GBP/USD pair fluctuated between 1.3742 and 1.3847. Price action lacked direction, hovering around the 20-period moving average on the hourly chart.On the 4-hour chart, the pair is breaking below the 10-period moving average (MA) that had been providing support, while on the daily chart, it is in the midst of a pullback from the +3σ line of the Bollinger Bands. Furthermore, during today’s Asian trading session, upside gains have been limited, and the pair is testing lower levels.

Today’s economic indicators include the Tokyo Metropolitan Area Consumer Price Index and Japan’s Employment Statistics at 8:30 a.m., Japan’s Retail Sales and Department Store/Supermarket Sales, and Japan’s Industrial Production; at 9:30 AM, Australia’s Producer Price Index; at 2:00 PM, Japan’s Housing Starts; at 3:00 PM, South Africa’s Money Supply; at 5:55 PM, Germany’s Employment Statistics; at 6:00 PM, Germany’s Real GDP; at 6:30 PM, the UK’s Money Supply; at 7:00 PM, the Eurozone’s Real GDP;EU Employment Statistics, 10:00 PM: Germany Consumer Price Index, 10:30 PM: US Producer Price Index, Canada Real GDP, US Producer Price Index (December), 11:45 PM: US Chicago PMI, 3:30 AM: US Musalem: St. Louis Fed President is scheduled to speak.With the GBP/USD pair in a tight range, I’ll be watching price action during U.S. trading hours to see if it breaks out in either direction.