Pairs in Focus: Forex Technical Analysis from November 1 to November 7, 2025
Original Analysis by: Jonathan Morgan, DailyForex.com
This forex technical analysis covers the major currency pairs and charts significant trend directions, key support and resistance levels, and other technical patterns observed during the week of November 1 to November 7, 2025. The trading activity in the forex market provided several notable setups based on price actions across different timeframes. This detailed breakdown aims to help traders better understand potential market directions by examining the key pairs and their movements.
EUR/USD – Euro Strength Faces Resistance After Rally
The EUR/USD pair experienced considerable upward movement during the early part of the week. The push higher indicated a shift in momentum after previously bearish sentiment, with strong buying interest exceeding key resistance levels. However, the pair is now facing a critical decision point.
Key Technical Observations:
– The EUR/USD pair tested the resistance near the 1.0830 mark, which aligns closely with previous structural highs.
– A clear ascending trendline from the October lows is still intact, offering dynamic support to further bullish momentum.
– Daily Relative Strength Index (RSI) moved to levels near 65, suggesting that while bullish energy remains, it is approaching overbought territory.
– The pair briefly pierced the 200-day Simple Moving Average (SMA), then reversed slightly, indicating uncertainty around continuation.
Potential Trade Scenarios:
– A break above 1.0830 resistance may trigger continued bullish moves toward 1.0900 and potentially 1.0950.
– On the downside, immediate support lies near 1.0720 followed by 1.0680. A clear drop below these levels would reintroduce bearish sentiment.
– Watching for price reactions to the 1.0750 pivot level could help clarify near-term direction.
GBP/USD – Sterling Slips Below Support as Bearish Pressure Intensifies
The British pound failed to maintain earlier gains and saw increased bearish momentum throughout the week. GBP/USD reversed from above 1.2200 and continues to display weak price action with limited bullish recovery.
Key Technical Observations:
– Strong resistance was observed at the 1.2270 area, a level which coincides with the 50-day moving average.
– The pair recorded successive lower highs, confirming an ongoing downtrend.
– RSI on the 4-hour chart dipped below 40, reinforcing short-term bearish sentiment.
– Volume profiles suggest limited buying interest around the 1.2150 region.
Important Support/Resistance Levels:
– Immediate support lies at 1.2075, followed by the longer-term level at 1.2020.
– A decisive breach below 1.2020 could open downside targets to 1.1950.
– Resistance zones are currently layered at 1.2200 and stronger resistance near 1.2270.
Trading Outlook:
– A break below 1.2020 shifts the bias firmly in favor of sellers.
– Longer-term traders may watch for oversold conditions below 1.1950 for a possible bounce.
– Any move back above 1.2270 would challenge the existing downtrend and could reintroduce bullish pressure.
USD/JPY – Dollar-Yen Holds Firm Above 150.00 as Uptrend Extends
USD/JPY remains one of the strongest trending pairs, continuing its bullish momentum above the psychological 150.00 level. The yen’s weakness highlights continuing divergence in monetary policy between the Bank of Japan and the US Federal Reserve.
Key Technical Observations:
– The ascending channel pattern remains intact with price comfortably trading at the upper end of the structure.
– Resistance near 151.80 remains a key level for bulls to challenge.
– Rising 50-day and 20-day moving averages signal strong upward momentum.
– The RSI sits around 70 on the daily chart, suggesting overbought conditions though momentum remains stable.
Targets and Strategy:
– A clear break and close above
Read more on EUR/USD trading.