GBP/JPY in the upper range—could it continue to rise?

GBP/JPY in the upper range—could it continue to rise?

27.04.2026

Last weekend, U.S. currencies traded weakly as U.S. trading hours began, and the U.S. dollar fell against the euro.The EUR/USD pair rose from 1.1673 to 1.1722. An uptrend developed along the 20-period moving average (MA) on the hourly chart. On the 4-hour chart, the pair rebounded as it found support at the 200-period exponential moving average (EMA), and on the daily chart, it rebounded after touching the 200-period simple moving average (SMA), ending a three-day losing streak. An engulfing bullish candle formed.

Among European currencies, the pound rose against the yen. The GBP/JPY pair rose from 214.858 to 215.776. It moved from below the 20-period moving average (MA) on the hourly chart to above it.On the 4-hour chart, the price has extended to the +3σ level of the Bollinger Bands, and on the daily chart, it has recovered to this month’s high range. The 10-period moving average acted as a support level, triggering a price rebound. On the weekly chart, the pair has risen for three consecutive weeks and has reached the +2σ level of the Bollinger Bands.

Today’s economic indicators include the Japan Leading Economic Index at 14:00, the German GfK Consumer Confidence Survey at 15:00, and the UKCBI Retail Trade Survey at 19:00, the U.S. Dallas Fed Manufacturing Activity Index at 23:30, and U.S. 2-year and 5-year Treasury auctions at 26:00. No other major economic indicators or key speeches are scheduled. We will be watching for upside potential in the GBP/JPY pair at the start of the week following its recent rise.