**Daily Technical Analysis of Major Forex Pairs: October 24, 2025**
*Original analysis by Rudolf Ranes, additional commentary provided.*
The foreign exchange market remained dynamic on October 24, 2025, with major currency pairs reacting to a blend of economic indicators, market sentiment, and evolving geopolitical factors. Here is a detailed technical outlook on the most actively traded pairs, featuring trend analyses and key levels to watch.
—
### **EUR/USD Analysis**
The EUR/USD pair continues navigating a complex technical landscape. After facing heightened volatility the previous week, traders have been closely monitoring the pair as it attempts to establish a firm direction.
**Key Technical Points:**
– **Recent Price Action**: The pair recently tested significant support near 1.0600, bouncing upward with increasing trading volume. Resistance remains visible around the 1.0700 level.
– **Technical Indicators**:
– The 50-period Moving Average (MA) on the daily chart sits slightly below 1.0650, providing interim support.
– The Relative Strength Index (RSI) hovers near 45, signaling the pair is neither overbought nor oversold.
– MACD on the four-hour chart points to fading bearish momentum, with histogram bars narrowing.
– **Chart Patterns**: A descending channel continues to pressure the pair, but recent candles suggest a potential consolidation phase or a reversal attempt.
**Key Levels:**
– **Support**: 1.0600, 1.0575, 1.0500
– **Resistance**: 1.0700, 1.0780, 1.0850
**Outlook:**
If the pair maintains a foothold above 1.0650, further tests towards 1.0700 and 1.0780 are probable. However, a decisive drop below 1.0600 could renew bearish momentum toward 1.0500.
**Fundamental Drivers:**
– ECB’s cautious stance on future rate hikes keeps the euro in check.
– US economic data, especially related to employment and inflation, continue to influence the pair.
—
### **GBP/USD Analysis**
Sterling traded in a narrow range as investors assessed domestic economic uncertainties and the Bank of England’s monetary policy outlook.
**Key Technical Points:**
– **Recent Price Action**: GBP/USD formed a base around 1.2100 after a pronounced sell-off earlier in the month. Attempts to climb above 1.2200 have thus far been capped.
– **Technical Indicators**:
– 20-day SMA (Simple Moving Average) is trending just above current price, adding overhead resistance.
– Stochastic Oscillator shows a slight upturn from oversold territory, hinting at short-term bullishness.
– Daily RSI is nearing 40, a neutral yet weak position.
– **Chart Patterns**: An inside bar pattern has developed, reflecting indecision and the potential for a
Read more on AUD/USD trading.