Forex Market Forecast – Euro, Pound, and Yen Test Support as US Yields Drift Christopher Lewis Tue, August 11, 2026 at 3:32 PM GMT+2 2 min read EUR=X JPY=X DX-Y.NYB EURUSD=X GBPUSD=X EUR/USD Technical Analysis EUR/USD sits at 1.1540 near the 50-period EMA, pulling back from the 1.1580 spike with the 1.1550 level as near-term resistance. Source: TradingView The Euro has bounced a bit during the early part of the trading session here on Tuesday as we are sitting just above a short-term support level that has been important a couple of times. It'll be interesting to see if the Euro can continue to climb. The 1.1550 level above could be a little bit of a psychological barrier, but as we drift through the day, and that's the big key here- we're drifting, I'll be watching the interest rates in America to see if they are rising or climbing, and whether or not that makes the Euro susceptible to US dollar strength. GBP/USD Technical Analysis GBP/USD tests the 1.3500 level above both EMAs, consolidating within a range near the 1.3550 recent high. Source: TradingView The British pound has rallied a bit early from a support level, gave back those gains, and now looks as if it's trying to fight to get back above the 1.35 level again. There has been a bit of support just below there over the last couple of days, so it'll be worth watching to see if markets are going to continue to use this as a launching pad or if it is a situation where we are just somewhat lost. The interest rates in America have been drifting back and forth during the day. Over the last couple of hours, we've seen them drift lower. That could help the pound in theory. USD/JPY Technical Analysis USD/JPY bounces to 159.21 above both EMAs, with 158.00 as near-term support and the 160.00 level overhead. Source: TradingView The US dollar is bouncing slightly from a short-term support level in the form of 159 yen against the Japanese yen. This, of course, is a market that's going to be a little different than others as the Bank of Japan has recently intervened, but we've seen a nice bounce back so far, and it looks as if the next major barrier is somewhere closer to the 160 yen level. If you'd like to know more about technical analysis and how traders use it, please visit our educational area. This article was originally posted on FX Empire More From FXEMPIRE: Chip Stocks Forecast – AMD, Nvidia, and Intel Face Key Technical Levels EUR/USD, USD/CAD, and USD/JPY Short-Term Forecast for and 07/08/2026 US Dollar Price Forecast: Will CPI Revive DXY as EUR/USD and GBP/USD Test Resistance? Bitcoin Price Prediction: BTC Seems Ready to Pull Up as Whales Invest $1.9 Billion Forex Market Forecast – Euro, Pound, and Yen Test Support as US Yields Drift Retail Stocks Forecasts – Walmart, Target, and Costco Consolidate Ahead of Earnings {"contentId":"f0a752e0-4d24-3570-bde4-b8ef1e807303","canonicalUrl":"https://finance.yahoo.com/markets/currencies/articles/forex-market-forecast-euro-pound-133208907.html","owningPropertyUrl":"https://finance.yahoo.com/markets/currencies/articles/forex-market-forecast-euro-pound-133208907.html","providerId":"fx_empire_176","commerceSiteId":"","site":"finance","region":"US","lang":"en-US","tags":[,,,,,,,,,,,,,,,,,,,,,,,],"categories":[,],"commerceArticleType":""} Terms and Privacy Policy EU DSA contact Privacy & Cookie Settings More Info
