**Forex Technical Analysis: Major Pairs Update for August 8, 2025**
*Based on original reporting by I Gusti Agung Bagus Dharma Agastia for FX Daily Report, with additional research and insights*
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**Overview of the Forex Landscape**
In the ever-changing world of foreign exchange, traders closely track developments among major currency pairs, continually reassessing their forecasts in response to technical signals, market sentiment, and global economic news. As we approach August 8, 2025, major pairs such as EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CHF are positioned at crucial technical levels, reflecting evolving central bank policies, regional economic surprises, and risk sentiment shifts.
This analysis reviews recent price action and technical setups for each major pair and includes insights from alternative forex sources to provide a broader view.
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### EUR/USD: Testing Range Limits
The **EUR/USD** has demonstrated low volatility over the past trading sessions, consolidating within a narrow range after a pronounced move driven by data from both the Eurozone and the United States. According to I Gusti Agung Bagus Dharma Agastia, the pair is now testing resistance at 1.1000, with support established at 1.0860.
**Technical Highlights:**
– **Range Bound:** Price remains bound between 1.1000 (major resistance) and 1.0860 (key support).
– **Moving Averages:** The pair is hovering near its 50-day and 200-day simple moving averages (SMAs), indicating indecision.
– **Momentum:** The Relative Strength Index (RSI) remains in a neutral region, suggesting limited momentum for either bulls or bears.
**Key Market Drivers:**
– **ECB Policy Outlook:** Ongoing speculation over the European Central Bank’s monetary stance is keeping traders cautious.
– **US Data Influence:** Recent strong US labor and inflation figures have limited euro upside by boosting dollar demand.
**Trading Scenarios:**
– **Bullish move:** A decisive break above 1.1000 would open the way toward 1.1100 and potentially 1.1200.
– **Bearish move:** A drop below 1.0860 could see the pair target 1.0800 and 1.0720 afterwards.
**Analysts’ Insights:**
According to research from FXStreet, a sustained move above the key resistance could require evidence of weaker US data or clear indications of future ECB tightening. Conversely, dovish remarks from ECB or stronger US growth figures would strengthen the dollar.
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### GBP/USD: Uptrend Faces Resistance
The **GBP/USD** pair remains in an uptrend, though its recent momentum has slowed as it approaches resistance zones.
**Technical Highlights:**
– **Support Zone:** 1.2850 acts as firm support, with the pair consolidating above this level.
– **Resistance Area:** The pair faces selling pressure near 1.3050 and again at
Read more on AUD/USD trading.