**Forex Technical Analysis for Major Currency Pairs: October 3, 2025**
*Original insights and structure based on FXDailyReport.com. Additional relevant analysis incorporated from industry-standard sources, including DailyFX and FXStreet. Credit to FXDailyReport’s technical team for foundational analysis.*
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The foreign exchange market continues to demonstrate notable volatility as global events, monetary policy shifts, and macroeconomic data releases guide currency movement. This comprehensive analysis explores the technical outlook for major pairs as of October 3, 2025, providing traders with actionable insights and potential scenarios moving forward.
## EUR/USD: Downtrend Retests Key Supports
The EUR/USD pair has been entrenched in a steady downtrend, struggling under the weight of hawkish U.S. Federal Reserve policy decisions and diverging eurozone economic data. Sellers have reinforced their presence below the 1.0550 level, with technical indicators signaling persistent bearish momentum.
– **Support and Resistance Levels:**
– Immediate support is found near 1.0500, a historical pivot point from Q2 2024.
– Secondary support lies at 1.0450, a key threshold from mid-2023 price action.
– On the upside, resistance forms at 1.0600 and 1.0650.
– **Technical Indicators:**
– The Daily Relative Strength Index (RSI) remains below 40, indicating bearish pressure.
– Moving averages (50-day and 200-day) suggest sustained downside risk.
– The MACD (Moving Average Convergence Divergence) histogram remains in negative territory, affirming ongoing selling interest.
– **Chart Patterns and Scenarios:**
– Price action is developing a falling wedge pattern which, if resolved to the upside, could spark a corrective rally.
– Failure to hold the 1.0500 support may trigger further declines toward the 1.0350 zone.
– **Fundamental Context:**
– Continued rate hikes by the Federal Reserve, contrasted with a dovish ECB, fuel downside risk.
– Eurozone inflation prints this week, alongside U.S. jobs data, are critical catalysts.
## GBP/USD: Consolidation and Reversal Watch
GBP/USD recently experienced a pronounced slide, approaching a multi-month support region near the 1.2150 handle. Buyers have maintained some control above this threshold, though upside attempts remain limited.
– **Key Levels:**
– Support is found at 1.2150 and further down at 1.2100.
– Resistance is visible around 1.2280 and a more substantial ceiling at 1.2350.
– **Technical Insights:**
– The pair is oscillating near its lower Bollinger Band, with periodic tests of oversold territory.
– RSI holds above 35, suggesting some stabilization but with a bearish tilt.
– 20-day moving average remains a resistance cap for recent rallies.
– **Potential Setups:
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