Attention Turns to Upside Potential for GBP/USD After Recovery from Year-to-Date Low
01.04.2026
- Australia: Housing Construction Permits
- U.S. ISM Manufacturing Index
In the U.S. currency market the previous day, the U.S. dollar fell against the euro.The EUR/USD pair rose from 1.1447 to 1.1563. The price extended along the +2σ line of the hourly Bollinger Bands to the 200-period SMA. On the 4-hour chart, the price has surged to the +2σ line of the Bollinger Bands, and on the daily chart, it is currently recovering from near last month’s low.
Among European currencies, the pound rose against the U.S. dollar. The GBP/USD pair rose from 1.3159 to 1.3264. It moved from below the 20-period moving average on the hourly chart to above it.On the 4-hour chart, the RSI has rebounded from 25 to 46, and on the daily chart, the pair has staged a sharp recovery from its year-to-date low. Given that the pound is trending higher during today’s Asian trading session, it will be interesting to see if it gains further momentum during U.S. trading hours.
Today’s economic indicators include New Zealand housing permits at 6:45, the Bank of Japan’s Tankan survey at 8:50, Australian housing permits at 9:30, the German manufacturing PMI at 16:55, the Eurozone manufacturing PMI at 17:00,5:30 PM UK Manufacturing PMI, 6:00 PM Eurozone Employment Statistics, 8:00 PM US MBA Mortgage Applications Index, 9:15 PM US ADP Employment Report, 9:30 PM US Retail Sales, 10:05 PM US Musalem:St. Louis Fed President’s remarks, 22:10 U.S. Fed Governor Barr’s remarks, 22:45 U.S. PMI Purchasing Managers’ Index, 23:00 U.S. Business Inventories, U.S. ISM Manufacturing Index, U.S. Building Permits,and at 23:30, U.S. weekly crude oil inventories are scheduled to be released. We’ll be watching for upside potential in the GBP/USD pair, which has rebounded from its year-to-date low.
