The EURJPY pair is forced to provide weak sideways trading, affected by the contradiction between the main indicators, keeping its stability near 180.80, reminding you that the negative stability below 181.75 barrier forms main factors to motivate the dominance of the bearish corrective trend, to expect the attempt of pressing on 179.40 level, where surpassing it will form next main target at 178.60 for the bearish trading.
While breaching the mentioned barrier and holding above it will increase the chances of resuming the main bullish trend, to expect recording extra gains by its rally towards 182.30 and 183.05.
The expected trading range for today is between 179.30 and 181.10
The EURJPY pair is forced to provide weak sideways trading, affected by the contradiction between the main indicators, keeping its stability near 180.80, reminding you that the negative stability below 181.75 barrier forms main factors to motivate the dominance of the bearish corrective trend, to expect the attempt of pressing on 179.40 level, where surpassing it will form next main target at 178.60 for the bearish trading.
While breaching the mentioned barrier and holding above it will increase the chances of resuming the main bullish trend, to expect recording extra gains by its rally towards 182.30 and 183.05.
The expected trading range for today is between 179.30 and 181.10
The British pound is showing signs of life again as climbs to 1.3197, breaking above short-term moving averages and posting its strongest bullish daily momentum in weeks. With RSI crossing above the neutral 50 mark and price pushing through resistance, traders are asking whether this rebound marks the beginning of a larger recovery — or just another short-lived bounce in a broader downtrend.
The 15-day (1.3141) and 20-day (1.3132) moving averages have flattened, and price has broken above both, signalling short-term bullish momentum.
Recent candles show strong follow-through, a departure from the sluggish, weak rallies earlier in the month.
The RSI (14) at 50.79 has climbed back above the midpoint — often an early indicator of a momentum shift.
While the broader trend over the last two months remains down, the recent structure suggests a potential base forming near 1.31, especially if upside continuation holds.
Macro Drivers: Pound Rebounds as Dollar Softens
GBP/USD’s recovery is influenced by shifting macro conditions:
Pound-Supportive Factors
Improved risk sentiment across global markets
Stabilizing UK economic data, particularly in services and employment
Reduced the odds of deeper recession talks from UK analysts
Dollar Dynamics
The US dollar has cooled as Treasury yields stabilize
Traders increasingly speculate that the may have reached peak tightening
Demand for USD safe-haven flows has softened
This combination has allowed the pound to gain breathing room after weeks of pressure.
A breakout above 1.3230 would cement the bullish reversal and likely drive a move toward 1.3300.
But a drop back below 1.3150 weakens the rebound and puts 1.3100 back into play.
Sentiment Check: Traders Are Watching for Confirmation
Retail traders have begun lightly rotating into GBP longs
Institutional flows remain cautious but no longer aggressively bearish
GBP volatility readings have ticked lower, hinting at stabilization
Traders are waiting for follow-through above 1.3230 to confirm a meaningful shift.
The pair is showing real signs of stabilization, backed by improving technical momentum and a softer USD backdrop. But the pair still needs to break out above resistance to confirm a full trend reversal.
Bullish Scenario: A close above 1.3230 opens a path toward 1.3300–1.3350.
Bearish Scenario: A drop back below 1.3150 puts the pound at risk of falling toward 1.3100 again.
Right now, the pair is in recovery mode — but not yet in a confirmed uptrend.
UBS increased its 2026 copper price forecast due to reduced supply from mine disruptions, notably at Freeport Indonesia’s Grasberg mine, and robust long-term demand.1
The U.S. Supreme Court’s 2024 ruling in Murray v. UBS lowered the standard for financial whistleblowers, prompting a U.S. appeals court to revive a related lawsuit on whistleblower protections.2
Meanwhile, US economic data and FOMC members have fueled speculation of a December Fed rate cut, signaling a potential narrowing of US-Japan rate differentials, and favoring the yen. Monetary policy divergence could materially alter USD/JPY’s recently bullish trajectory, placing a greater emphasis on incoming data.
Japan Leading Economic Index in Focus
On Wednesday, November 26, Japan’s Leading Economic Index (LEI) will provide insights into business and consumer sentiment at the end of the third quarter. Economists expect the LEI to rise from 107.0 in August to 108.0 in September.
A higher LEI reading could point to increased business investment and higher wages, aligning with updates from wage negotiations. Crucially, higher wages could boost households’ purchasing power, leading to higher spending and rising demand-driven inflation. Furthermore, improving consumer sentiment may also translate into an upswing in private consumption.
For context, the LEI dropped to 104.2 in April, its lowest level in two years before edging higher. LEI trends reflected trade developments. These trends suggest a September pickup, given that the US lowered tariffs on Japanese goods to 15% in September. The softer yen could also lift sentiment, given that USD/JPY strength would offset the effect of tariffs on company profit margins.
Airbnb (ABNB) saw a slight uptick in its latest intraday trading, even as the stock continues to face negative pressure while trading below its 50-day simple moving average. The medium-term downtrend remains dominant, with the price moving along a descending trendline. These recent gains appear to be an attempt to recover part of its previous losses, while the stock also works on easing its clear oversold conditions on the Relative Strength Indicators, especially as early positive signals begin to appear.
Therefore, we expect the stock to decline in the upcoming sessions, as long as it remains below $117.30, targeting the support level at $105.40.
GBP/JPY consolidates during Tuesday’s session as the Japanese Yen (JPY) appreciates on threats of possible intervention of the BoJ in the FX markets, and also as Pound Sterling traders wait for the release of UK’s fiscal budget. At the time of writing, the cross trades at 205.44, losing 0.08%.
GBP/JPY Price Forecast: Technical outlook
The GBP/JPY trades sideways but a daily close below 206.00 and 205.50, could sponsor a retest of last Friday’s low of 204.30. Momentum favors further upside as the Relative Strength Index (RSI) lies above its neutral line, an indication that buyers outweigh sellers.
That said, if the cross rises past 206.00, the next stop would be the yearly peak of 206.86, ahead of the 207.00 milestone. Once cleared, the next resistance is 208.00 ahead of 210.00.
For a bearish continuation, sellers must clear the November 21 low of 204.30. The next support would be 204.00 and the 50-day SMA at 202.17.
GBP/JPY Price Chart – Daily
GBP/JPY daily chart
Pound Sterling Price This week
The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the strongest against the Canadian Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
-0.48%
-0.49%
-0.34%
-0.01%
-0.17%
-0.13%
-0.14%
EUR
0.48%
-0.03%
0.13%
0.46%
0.29%
0.34%
0.34%
GBP
0.49%
0.03%
0.14%
0.49%
0.31%
0.37%
0.35%
JPY
0.34%
-0.13%
-0.14%
0.33%
0.10%
0.08%
0.21%
CAD
0.00%
-0.46%
-0.49%
-0.33%
-0.18%
-0.12%
-0.13%
AUD
0.17%
-0.29%
-0.31%
-0.10%
0.18%
0.07%
0.06%
NZD
0.13%
-0.34%
-0.37%
-0.08%
0.12%
-0.07%
-0.01%
CHF
0.14%
-0.34%
-0.35%
-0.21%
0.13%
-0.06%
0.01%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
The Pound-to-Dollar exchange rate (GBP/USD) edged toward a one-week high on Tuesday, supported by renewed speculation that the Federal Reserve could cut interest rates again in December.
At the time of writing, GBP/USD was trading around $1.3153, up almost 0.4% from Tuesday’s opening levels.
The US Dollar (USD) lost traction on Tuesday amid rising expectations for a December Fed rate cut, with the probability climbing to around 85%.
This marked a significant reversal from the end of last week, when hawkish Federal Reserve minutes pushed the chances of a cut down to just 25%.
The shift in sentiment followed the latest US retail sales report, which showed September’s growth slowing to its weakest pace since May.
Further downward pressure came from Fed policymaker Stephen Miran, who suggested the US economy is “calling for large interest rate cuts,” reinforcing the increasingly dovish tone in markets.
The Pound (GBP) remained muted on Tuesday as investors adopted a cautious stance ahead of Chancellor Rachel Reeves’s first autumn budget, set to be unveiled on Wednesday.
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Reeves is expected to detail measures to close an estimated £20bn fiscal gap and potentially expand fiscal space compared to last year’s limited headroom.
With income tax rises effectively ruled out, analysts widely expect a patchwork of smaller tax increases and targeted spending reductions — an approach that has stirred concerns over the potential impact on household finances and business investment.
At the same time, markets continue to weigh how these fiscal plans may influence upcoming Bank of England (BoE) decisions, with considerable speculation that policymakers could deliver another rate cut in December.
GBP/USD Forecast: All Eyes on UK Budget
Looking ahead, Wednesday’s budget announcement is likely to dominate movement in the Pound US Dollar exchange rate.
Should Reeves unveil a package that raises concerns over economic growth or appears to increase pressure on the BoE to accelerate its cutting cycle, the Pound could face renewed losses.
Conversely, a budget seen as balanced, credible, and supportive of long-term stability may offer Sterling a lift after several turbulent weeks.
Meanwhile, USD investors will be watching the latest US durable goods orders data, with expectations that a slowdown in orders could place fresh pressure on the Dollar and deepen support for Fed rate-cut speculation
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This is the third consecutive week of consolidation near the recent trend high of $4.68. The prior two weeks closed in the top half of their ranges, indicating buyers have retained underlying control. Resistance continues near the 88.6% Fibonacci retracement at $4.64. A daily close below $4.44 would confirm short-term weakness and a three-day breakdown. Until a decisive breakout above $4.69 occurs, risk of continued consolidation or a deeper bearish correction remains. Below the recent $4.24 swing high lies the June $4.15 swing high, then the 38.2% retracement at $4.00 and 50% level at $3.79.
Overextended Advance
Although buyers have kept a degree of control in recent weeks, the sharp slope of the advance since the October interim swing low—up as much as $1.80 or 62.1% to the recent high—matches the 63.9% gain from the January $2.99 low to the March $4.90 peak, which was followed by a multi-month correction. The RSI has begun retreating from overbought territory, leaving natural gas vulnerable to a corrective pullback.
Outlook
The 20-day average at $4.37 is the critical pivot. Holding above it keeps upside potential alive toward $4.69 and higher; a decisive drop below opens $4.24–$4.15 initially, with deeper support at the measured retracements. Until the $4.69 high is cleared, consolidation or correction risk stays elevated.
For a look at all of today’s economic events, check out our economic calendar.
Gold (XAU/USD) is trading practically flat on Tuesday, holding most of the gains taken on Monday. Price action remains capped below the $4,150 area, yet with downside attempts contained above a previous resistance, at $4,100, as growing hopes that the Federal Reserve will cut interest rates in December are hurting the USD.
Fed Governor Christopher Waller called for an interest rate cut in December at a Fox Interview on Monday, echoing Friday’s comments by the New York Fed President John Williams, who said that a December rate cut was possible. This has increased pressure on US Treasury yields, acting as a headwind for US Dollar rallies.
Technical Analysis: A break of $4,150 confirms a trend shift
XAU/USD 4-Hour Chart
Gold is consolidating gains above a previous resistance area at $4,100 on Tuesday, after bouncing from the 78.6% Fibonacci retracement of the early November rally, near $4,000, a common target for corrective moves.
The 4-Hour Relative Strength Index (RSI) is consolidating above the 60 level, and the Moving Average Convergence Divergence (MACD) has crossed above the 0 level and is printing green bars on the histogram, revealing a moderate bullish momentum.
A break above the mentioned $4.150 area (Intraday high, November 13 low), would confirm that the correction from the $4,250 area has completed, and bring the November 14 high, at $4,210, to the focus, ahead of the mentioned November peak, at $4,245.
A bearish reaction below $4,100, on the contrary, might increase pressure towards the November 21 and 24 lows, in the area between $4,020 and $4,040 ahead of the November 18 and the, $4,000 psychological level.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
