Title: Weekly Forex Market Outlook: Key Currency Pairs in Focus (November 23–28, 2025)
Author: DailyForex.com, Original Analysis by Amir Isa
Overview
As we approach the final trading week of November 2025, the spotlight turns toward a range of major Forex pairs, all poised for heightened volatility amid scheduled macroeconomic reports and technical breakout potential. Inflation indicators, central bank sentiments, and key support/resistance levels dominate market sentiment heading into the week. The following analysis provides a comprehensive look at the technical and fundamental factors impacting top currency pairs such as EUR/USD, GBP/USD, USD/JPY, and AUD/USD. Traders can use this to inform their short- and medium-term strategies.
EUR/USD Analysis
The EUR/USD pair has continued to trade within a defined upward channel during recent sessions, facing both fundamental and technical crosscurrents. In the previous week, the Euro showed resilience, supported by better-than-expected Purchasing Managers’ Index (PMI) data from key Eurozone economies. Meanwhile, the U.S. dollar softened amid dovish tones in the FOMC minutes, hinting at potential peaking interest rates.
Key Technical Patterns:
– The pair has formed a strong ascending triangle pattern.
– The horizontal resistance at 1.0950 is being tested repeatedly.
– The rising trendline offers support at approximately 1.0820.
Critical Support and Resistance Levels:
– Resistance: 1.0950, followed by 1.1020 and 1.1100.
– Support: 1.0820, with further downside toward the 1.0750 level if the trendline breaks.
Fundamental Influences:
– The European Central Bank (ECB) is expected to maintain a cautious stance given current inflation dynamics.
– German inflation figures due on Wednesday may influence near-term direction.
– In the U.S., key data includes GDP data and PCE inflation on Thursday, both of which may affect market expectations for future Federal Reserve rate decisions.
Outlook:
A breakout above 1.0950 could propel the pair toward the 1.11 handle. Conversely, any disappointment in Eurozone data paired with stronger U.S. metrics could send the pair back below the 1.08 support zone.
GBP/USD Analysis
The pound sterling strengthened against the dollar last week on the back of hawkish Bank of England (BoE) commentary and slightly better-than-anticipated retail sales results. Market participants are beginning to price in a prolonged period of elevated interest rates in the UK, aiding GBP/USD’s recovery.
Technical Insights:
– The pair has rebounded from a double-bottom formation near the 1.2100 mark.
– A bullish crossover is forming in the Moving Average Convergence Divergence (MACD) on the 4-hour chart.
– RSI remains neutral, indicating room for either upside or downside momentum.
Critical Price Levels:
– Resistance: 1.2450 and 1.2600 levels are the next targets.
– Support: 1.2200, with key momentum support at 1.2100.
Key Economic Drivers This Week:
– UK consumer confidence data (GfK) may influence sentiment early in the week.
– BoE MPC members are scheduled for public appearances, which may provide hints on future rate adjustments.
– U.S. data, especially the GDP release, will also impact this pair due to dollar sensitivity.
Outlook:
Provided that UK data reinforces positive sentiment and no significant upside surprises emerge from the U.S., GBP/USD could aim to retest the year’s high around the 1.26 region. A drop back below 1.2200 would invalidate the current bullish setup.
USD/JPY Analysis
After months of sustained bullish movement, USD/JPY shows signs of potential retracement. A retreat in U.S. Treasury yields triggered some weakness in the dollar, allowing the yen to recover slightly. Japan’s Finance Ministry and Bank of Japan have become increasingly
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