Will the pound, which has fallen against the U.S. dollar, test new lows? Keep an eye on price movements during European trading hours.

Will the pound, which has fallen against the U.S. dollar, test new lows? Keep an eye on price movements during European trading hours.

19.03.2026

In the U.S. currency market yesterday, the U.S. dollar rose following the FOMC meeting, where the policy interest rate was left unchanged. The EUR/USD pair fell from 1.1549 to 1.1469, rebounding after encountering resistance at the 200-period SMA on the hourly chart.On the 4-hour chart, the price has shifted from above the 20-MA to below it. On the daily chart, a downtrend along the 10-MA is in effect, and the price is currently testing new lows for the year.

Among European currencies, the pound fell against the U.S. dollar. The GBP/USD pair dropped from 1.3374 to 1.3251. A downtrend has emerged along the -3σ line of the hourly Bollinger Bands.On the 4-hour chart, the price is moving from above the 20-MA to below it, while on the daily chart, it is attempting to set a new year-to-date low near an RSI reading of 37. Meanwhile, on the weekly chart, the price is attempting to break below the 75-MA support line.

Today’s economic indicators include: Japan’s machinery orders and foreign/domestic securities investment at 8:50; Australia’s employment report at 9:30; the Bank of Japan’s policy rate decision and statement around 12:00; Japan’s industrial production at 13:30;at 15:30, Japan’s BOJ Governor Ueda’s press conference; at 16:00, the UK’s employment report; at 17:30, the Swiss National Bank’s (SNB) policy rate and statement; at 18:00, SNB Governor Schlegel’s press conference; at 19:00, the Eurozone’sConstruction Output, 21:00 UK: BOE Policy Rate and Statement, 21:30 US: Initial Jobless Claims, US: Philadelphia Fed Business Outlook Index, 22:15 Eurozone:ECB policy rate and statement, 22:45: ECB President Lagarde’s press conference, 23:00: U.S. new home sales, U.S. wholesale inventories, and U.S. leading economic index.We’ll be watching price movements during European trading hours to see if the pound, which has fallen against the U.S. dollar, will extend its decline.