Original Article Credit: DailyForex.com, Technical Analysis by Fawad Razaqzada
Source: https://www.dailyforex.com/forex-technical-analysis/2025/11/pairs-in-focus-07th-to-07th-november-2025/236361
Title: Forex Weekly Technical Outlook: Key Pairs to Watch from November 7 to November 14, 2025
The forex market started the second week of November with cautious optimism after a volatile October. The U.S. dollar, which displayed intermittent strength during the past month, now faces increasing skepticism as traders assess incoming U.S. economic data and global central bank policy shifts. The Federal Reserve’s rate stance, relatively hawkish until recently, could begin to soften if inflation continues to trend downward and growth prospects weaken. Meanwhile, currencies like the euro, pound, and yen are responding sensitively to domestic macroeconomic trends and risk sentiment across global markets.
Below, we break down the technical outlook for the key forex pairs for the week of November 7 through November 14, 2025.
EUR/USD – Searching for Direction After Range-Bound Trading
The EUR/USD pair has been trapped in a narrow consolidation range over the past trading week, prompting concerns about a lack of directional conviction. The single currency failed to sustain upside momentum after reaching a resistance zone just beneath the 1.0700 mark.
Technical Overview:
– Price has been oscillating between 1.0600 and 1.0700.
– The 21-day exponential moving average (EMA) is flattening, indicating indecision.
– Immediate support lies around 1.0600, while resistance remains firmly above 1.0700.
– The Relative Strength Index (RSI) remains neutral around the 50 level, suggesting limited momentum.
Key Factors to Watch:
– U.S. CPI report due later this week could shift expectations on Fed rate policy.
– European Central Bank (ECB) members’ speeches may provide clues on ECB’s inflation stance.
– Any break below 1.0600 could trigger further losses toward 1.0500.
– A clean break above 1.0700 would open the door toward 1.0800.
GBP/USD – Struggles to Hold Bullish Structure
Sterling continues to exhibit weaknesses after failing to regain its recent highs. The GBP/USD pair reversed lower last week and is now at risk of sliding back below the 1.2200 pivot level, a key technical threshold over recent weeks.
Technical Overview:
– The pair formed a double top pattern around 1.2330, suggesting potential reversal pressure.
– Price has dipped below the 50-day simple moving average (SMA).
– Near-term support lies at 1.2175; a break below this could prompt a corrective move to 1.2100.
– RSI is trending lower toward the 40 level but is not yet in oversold territory.
Key Factors to Watch:
– Bank of England (BoE) commentary and UK GDP data might influence near-term price action.
– A dovish BoE narrative could reinforce GBP downside risks.
– On the other hand, stronger economic data could help the pound reclaim the 1.2300 zone.
USD/JPY – Approaching Key Resistance Near 152
The USD/JPY pair has been climbing steadily, touching new multi-decade highs near 152. However, this area is seen as a potential intervention zone, and traders remain cautious about whether the Japanese authorities might step in to manage yen depreciation.
Technical Overview:
– The pair is in a clearly defined uptrend marked by higher highs and higher lows.
– Significant resistance has become apparent just above 151.90-152.00.
– Support comes in around 149.80-150.00.
– Momentum indicators are in overbought territory, with RSI hovering above 70.
Key Factors to Watch:
– Verbal or actual intervention from the Bank
Explore this further here: USD/JPY trading.