**Forex Major Pairs Technical Analysis – July 21, 2025**
*Adapted and expanded from the analysis by A. Stevens, FXDailyReport.com*
Understanding the ongoing trends in the forex market is crucial for traders seeking opportunities among the major currency pairs. The technical outlook for pairs like EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, and USD/CAD can indicate where momentum is building and help in preparing for potential market shifts. This comprehensive analysis for July 21, 2025, also incorporates insights from other reputable sources, delivering a robust strategic guide for the week ahead.
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### Euro/US Dollar (EUR/USD)
– **Current Trend:** The EUR/USD pair is showing signs of consolidation after a moderate recovery. The euro has faced resistance near the 1.0950 level yet remains above the 1.0900 threshold, indicating that buyers are attempting to sustain bullish pressure.
– **Key Technical Levels:**
– **Resistance:** 1.0950, 1.0980, and the psychological 1.1000 level are critical. A decisive break above 1.1000 would accelerate the move higher toward 1.1050.
– **Support:** 1.0900, with further support seen at 1.0860 and 1.0810. If the pair dips below these levels, the outlook could turn bearish, targeting 1.0770.
– **Indicators:**
– **RSI:** Hovering around 52, suggesting a neutral momentum with a slight upward bias.
– **MACD:** Flattish, implying that the market is awaiting a catalyst.
– **Moving Averages:** The price is at the 50-period EMA on the 4-hour chart, reinforcing the range-bound scenario.
– **Outlook:** Traders should monitor the European Central Bank’s (ECB) monetary policy updates and recent US economic releases for short-term triggers. The pair could remain locked in consolidation unless a major break occurs.
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### British Pound/US Dollar (GBP/USD)
– **Current Trend:** GBP/USD has maintained an upward bias, climbing above 1.2890. Sterling’s performance has been bolstered by an improved risk sentiment and additional support from hawkish Bank of England (BoE) guidance.
– **Key Technical Levels:**
– **Resistance:** 1.2950, followed by 1.3000. A move above 1.3000 could open the path to 1.3050.
– **Support:** Initial support seen at 1.2860, then at 1.2820, with a critical floor at 1.2780.
– **Indicators:**
– **RSI:** Currently around 57, reflecting a mildly bullish posture.
– **MACD:** Demonstrating positive momentum.
– **Moving Averages:** The pair sits above the 100-period SMA
Read more on AUD/USD trading.