**Comprehensive Technical Analysis of Major Forex Pairs – October 10, 2025**
*Adapted from the original article by FX Daily Report*
As we step into the second week of October 2025, the Forex market remains influenced by several fundamental and technical factors, especially among the major currency pairs. This in-depth analysis examines the latest price movements, trading setups, and possible scenarios for the key pairs: EUR/USD, GBP/USD, AUD/USD, and USD/JPY. Additionally, we will supplement this discussion with insights from market sentiment and macroeconomic events, providing a rounded view for traders and enthusiasts alike.
—
### EUR/USD: At a Technical Inflection Point
**Recent Developments:**
– The EUR/USD pair has experienced a consolidation phase in recent sessions, hovering just above the 1.0500 psychological level. This movement reflects ongoing uncertainty regarding the future direction of European Central Bank (ECB) policy and persistent strength in the US dollar.
**Technical Analysis:**
– **Support Levels:**
– Immediate support is positioned at 1.0480, the previous week’s low.
– Additional support can be found at 1.0400, a region tested multiple times since the start of the quarter.
– **Resistance Levels:**
– The 1.0600 handle acts as nearby resistance, with a further hurdle at 1.0650.
– The 50-day Simple Moving Average (SMA), now in the 1.0620 area, also serves as a dynamic resistance.
**Trend and Indicators:**
– The pair continues to trade below its 200-day SMA, confirming the dominance of the downtrend on higher timeframes.
– The Relative Strength Index (RSI) has come out of oversold territory but remains below the 50 mark, indicating ongoing bearish momentum without reaching extreme conditions.
**Potential Scenarios:**
– Bullish momentum will likely return if the pair manages a sustained close above 1.0600, which could encourage a recovery toward 1.0700 and possibly 1.0800 in the coming weeks.
– On the downside, a decisive daily close below 1.0480 risks a move to 1.0400, and further bearish extension could open the door to 1.0300 support.
**Fundamental Context:**
– The euro has struggled against the dollar due to persistent growth concerns within the eurozone and broad dollar strength following robust US economic data.
– Market participants are keenly monitoring the ECB’s next steps, as policymakers debate the trajectory of interest rates throughout the remainder of 2025.
—
### GBP/USD: Bearish Pressure Remains
**Recent Developments:**
– The British pound continues to trade under pressure near 1.2150 against the US dollar, as the greenback maintains its strength and the UK economy grapples with mixed economic data and lingering ambiguity about monetary policy.
**Technical Analysis:**
– **Support Levels:
Read more on AUD/USD trading.