**Pairs in Focus: 23rd to 28th November 2025**
*By Adam Lemon, DailyForex.com*
The week ahead in the forex market brings a blend of technical signals, fundamental releases, and seasonality factors as traders gear up for the end of November. With the Thanksgiving holiday in the United States expected to bring thin liquidity, particularly during the latter part of the week, key currency pairs may see unique intraday dynamics. Let’s analyze the most impactful pairs and technical setups to watch from the 23rd to the 28th of November 2025.
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## Market Context Overview
Before delving into individual pairs, it’s critical to outline several cross-market influences that could shape forex price action during the timeframe:
– **US Thanksgiving Holiday:** Thursday, 27th November is a public holiday in the US, and Friday is likely to be a half session for many US-based trading desks. These thin liquidity conditions can amplify volatility, trigger exaggerated moves, or result in choppy conditions.
– **Central Bank Watch:** The week is relatively light in scheduled major central bank meetings, but commentary from the Federal Reserve, European Central Bank (ECB), and Bank of Japan (BoJ) officials could still create headlines.
– **Key Economic Data:** Markets will monitor inflation reads, Eurozone surveys, and late-week Japanese data, among others. The US Durable Goods Orders on Wednesday and preliminary inflation prints from Germany on Friday will also be closely watched.
– **Seasonality and End-of-Month Flows:** As the month draws to a close, asset managers may rebalance positions, leading to unpredictable, non-fundamental market activity in the final sessions.
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## EUR/USD
### Technical Picture
EUR/USD enters the week above 1.0800, testing the upper levels of its recent range-bound structure.
– **Short-term Trend:** The pair registered a modest rally in the previous week but remains capped below the 1.0900 resistance zone.
– **Key Levels:**
– Resistance: 1.0900 and 1.0980
– Support: 1.0780 and 1.0700 (psychological)
– **Momentum:** RSI on the daily chart sits near neutral, pointing to potential for a breakout if volatility increases during thin holiday trading.
### Fundamental Triggers
– With the ECB not in session, data including Eurozone Business Climate and CPI from Germany will be impactful. Prospects of persistent inflation could bolster the Euro.
– In the US, Durable Goods Orders may hint at the relative pace of economic growth.
– Dovish signals from the Federal Reserve (due to slowing inflation) could keep the bias slightly bullish for EUR/USD.
### Trade Outlook
– A break above 1.0900 may see trend-followers enter long positions, targeting 1.0980. Alternatively, failure at immediate resistance could invite intraday selling towards 1.0780.
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## GBP/USD
### Technical Picture
Sterling has been consolidating above its own psychological handle at 1.2500, with direction heavily dependent on both USD movements and UK-specific risk appetite.
– **Short-term Trend:** A modest uptrend from the low seen in the middle of November, but with persistent headwinds.
– **Key Levels:**
– Resistance: 1.2590 and 1.2640
– Support: 1.2460 and 1.2380
– **Momentum:** The pair sits above its 50-day moving average, indicating that buyers are still interested, but momentum is weakening.
### Fundamental Triggers
– UK economic data this week is light, giving more prominence to global risk sentiment and possible headlines regarding the Bank of England’s outlook.
– Brexit-related noises or fiscal policy surprises can inject volatility.
– Any signs of USD weakness linked to soft economic data or Fed pivot discuss could support GBP/USD’s upside.
### Trade Outlook
– GBP/USD
Read more on GBP/USD trading.