**Forex Technical Analysis: Major Pairs Overview for October 10, 2025**
*Based on the analysis originally published by FXDailyReport.com – Credit to the original author.*
As the forex market continues to display volatility amid evolving macroeconomic trends, technical levels play a critical role in guiding trader decisions. This report provides a comprehensive technical analysis on major currency pairs for October 10, 2025, expanding on the tactics, pivot points, and broader market contexts that bear influence on current price action.
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**1. EUR/USD: Cautious Optimism Amid Resilience**
The EUR/USD pair recently demonstrated signs of resilience following a challenging week, rebounding from key technical support levels. Bulls are gradually regaining confidence, even as the pair remains susceptible to broader economic data and central bank commentary.
– **Price Action**
– The pair found support near the 1.0500 mark, a level that previously acted as a psychological and technical floor for buyers.
– Momentum indicators such as the Relative Strength Index (RSI) hover just above oversold territory, implying consolidation and potential upward correction.
– **Chart Structure**
– The daily chart illustrates a mild ascending channel forming since last week, suggesting the development of a bullish bias in the short term.
– A decisive close above 1.0600 would reinforce this trend, targeting resistance at 1.0650 and then 1.0700.
– **Support and Resistance**
– Immediate support: 1.0500
– Intermediate resistance: 1.0600
– Stronger resistance: 1.0650, 1.0700
– **Macro Factors**
– The euro’s strength is partially buoyed by recent improvements in Eurozone manufacturing data and cautious optimism regarding potential European Central Bank (ECB) policy adjustments.
– The US dollar’s relative strength continues to moderate, influenced by diverging monetary policies and softening inflation prints.
*Trading Strategy:*
Bulls may look for opportunities to buy on dips near support, with stop-losses below the 1.0500 handle. For confirmation of sustained upward momentum, wait for daily closes above 1.0600.
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**2. GBP/USD: Consolidation in Focus Amid BoE Uncertainty**
GBP/USD has entered a consolidation phase after a speedy recovery from multi-month lows, with traders carefully watching Bank of England (BoE) policy commentary and UK economic releases.
– **Price Action**
– The pair attempted a rally towards 1.2350 but faced resistance, consolidating near the 1.2300 region.
– The 50-day moving average approaches from above, acting as dynamic resistance.
– **Technical Formations**
– A bullish reversal pattern emerges on the four-hour chart, but conviction is weak pending a break of key resistance levels.
– Bollinger Bands are narrowing, indicating the likelihood of a breakout as volatility contracts.
– **Support and Resistance
Read more on AUD/USD trading.