**Forex Technical Analysis: Major Currency Pairs Outlook for August 8, 2025**
*Original Author: F.X. Daily Report Team, expanded and supplemented with additional information for comprehensive coverage.*
—
### Introduction
The foreign exchange (Forex) market continues to witness significant movement as major currency pairs react to evolving macroeconomic conditions, central bank policies, and geopolitical developments. As we move into August 2025, traders are analyzing technical structures to gauge the direction of major pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. This analysis synthesizes technical perspectives, highlights key support and resistance levels, and incorporates broader context from recent market developments.
—
### EUR/USD Technical Analysis
**Recent Performance and Overview:**
EUR/USD has shown mixed movement lately, influenced by the European Central Bank’s cautious monetary policy stance and the Federal Reserve maintaining higher-for-longer interest rates. The pair remains near critical support, with traders eyeing potential breakouts or breakdowns as leading indicators.
**Key Technical Levels:**
– **Support Levels:**
– 1.0800: A psychological and technical support rooted in early 2025 lows.
– 1.0760: Secondary support that has triggered buyer entries in recent weeks.
– **Resistance Levels:**
– 1.0950: A recent high and neckline from mid-July.
– 1.1020: Further resistance aligned with the 200-day moving average.
**Current Technical Structure:**
– The pair is consolidating just above the lower support region, displaying a descending channel on the daily chart.
– The 50-day moving average is flattening, suggesting a pause in bearish momentum, but not ruling out a renewed downtrend.
– RSI (Relative Strength Index) hovers near 46, indicating neutral sentiment.
**Potential Scenarios:**
– A break below 1.0800 could drive the pair toward 1.0700, as sellers reclaim control following recent dovish comments from ECB officials.
– On the upside, a successful breach above 1.0950 could see buyers test the 1.1020/1.1050 area, particularly if US economic data disappoints or the Fed signals policy easing later in 2025.
—
### GBP/USD Technical Analysis
**Recent Performance and Overview:**
GBP/USD has recovered from earlier lows in July, bolstered by surprise strength in the UK labor market and persistent inflationary concerns keeping the Bank of England vigilant.
**Key Technical Levels:**
– **Support Levels:**
– 1.2700: Major support that has held on several attempts.
– 1.2635: Short-term base from recent corrections.
– **Resistance Levels:**
– 1.2850: A local high established near the end of July.
– 1.2900: Psychological barrier and previous swing high.
**Technical Observations:**
– The pair trades
Read more on AUD/USD trading.