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

Will the range-bound GBP/USD pair break out, or should 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) that had been acting as resistance. On the daily chart, while the 200-period exponential moving average (EMA) is functioning as support, resistance at higher levels is becoming stronger. Notably, during today’s Asian session, the pair reversed course without testing yesterday’s low and has since reached 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 price is breaking below the 10-period moving average that had been providing support, while on the daily chart, a pullback from the +3σ line of the Bollinger Bands is currently underway. Furthermore, during today’s Asian trading session, upside gains have been limited, and the price has been digging deeper into negative territory.

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.I’d like to wait and see how the market moves during U.S. trading hours to see if the range-bound GBP/USD pair will break out.

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