**Pairs in Focus: 23rd to 28th November 2025 – Weekly Forex Technical Analysis**
*Credit: DailyForex.com*
As the Forex markets transition into the final weeks of November 2025, traders navigate a complex field punctuated by divergent central bank policies, shifting risk sentiment, and evolving economic data flows. The week of November 23rd to 28th is anticipated to be pivotal, with several major pairs setting up for potential breakouts or reversals. This in-depth technical analysis covers the primary pairs in focus, highlighting key levels, trend structures, and what to watch for as price action unfolds.
## EUR/USD: Consolidation Gives Way to Volatility Risk
The EUR/USD pair ended last week within a well-defined range, with traders hesitant ahead of key Eurozone inflation data and US growth releases. After bouncing from the 1.0600 support zone, the pair struggles near the 200-day moving average, now clustering around 1.0750.
**Key Technical Levels:**
– **Immediate support:** 1.0680
– **Stronger support:** 1.0600
– **Resistance zone:** 1.0750 to 1.0800 (200-day SMA, recent pivot highs)
– **Upside extension zone:** 1.0860 to 1.0900
– **Weekly trendline support:** Rising from October lows, intersecting near 1.0615
**Technical Outlook:**
– Range trading remains in force unless a decisive breakout occurs.
– Short-term momentum readings (4H RSI and Stochastic) have neutralized, suggesting a wait-and-see posture.
– A drop beneath 1.0600 would darken the outlook, exposing the August low at 1.0481.
– Bulls need a close above 1.0800 to reassert upside control.
**Strategic Focus:**
Until a catalyst emerges, plays within the 1.0600–1.0800 corridor may dominate. Keep an eye on European CPI and US GDP for breakout potential.
## GBP/USD: Susceptible to Pullbacks After Failing at Resistance
GBP/USD enjoyed a robust rally across November but found heavy resistance at 1.2625. The pair failed to achieve a daily close above this level, pointing to waning bullish momentum. With UK consumer spending data looming, the risk of a corrective pullback rises.
**Key Technical Levels:**
– **Immediate resistance:** 1.2625 (recent highs)
– **Secondary resistance:** 1.2700 (psychological, September highs)
– **Primary support:** 1.2520 (minor swing low and breakout point)
– **Major support:** 1.2430 (cluster support, 50-day moving average)
**Technical Outlook:**
– The RSI (Daily) is approaching overbought territory, cautioning against aggressive fresh longs.
– Price formed two consecutive daily pin bar candles—signals of rejection from resistance.
– The uptrend remains intact as long as the pair holds above 1.2430, but a break below 1.2520 could catalyze a sharper pullback.
**Strategic Focus:**
Watch for evidence of higher lows above 1.2520 for trend continuation. Bears will be alert for a breakdown below 1.2520 as the start of a short-term retracement.
## USD/JPY: Topping Signals Emerge, Eyes on Retracement
USD/JPY surged to fresh period highs, testing resistance at 152.00 before retracing amid verbal interventions from Japanese officials. As global risk sentiment fluctuates, the pair could be poised for deeper corrections if US yields waver.
**Key Technical Levels:**
– **Immediate resistance:** 152.00 (multi-year highs, psychological level)
– **Support zone:** 150.50 to 150.00 (short-term Fibonacci retracement)
– **Major support:**
Read more on GBP/USD trading.