**Forex Technical Analysis for Major Currency Pairs – October 10, 2025**
*Based on the article by Wright Mark, FXDailyReport.com, with additional insights from Investing.com and DailyFX*
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The Forex market continues to display notable volatility and uncertainty as traders eye a series of central bank decisions, economic data releases, and ongoing geopolitical developments. This technical analysis examines the price action and key support and resistance levels for major currency pairs heading into October 10, 2025. By leveraging both the original analysis by Wright Mark for FXDailyReport and the latest info from Investing.com and DailyFX, traders and investors can gain a more comprehensive perspective on the market landscape.
## Overview of Current Forex Themes
Several macroeconomic factors are influencing the trend and volatility of the Forex market:
– Ongoing speculation about the pace and extent of monetary policy tightening by the Federal Reserve, European Central Bank, and Bank of England.
– Fluctuations in U.S. Treasury yields, impacting capital flows and risk sentiment.
– Uncertainty over global economic growth amid mixed economic data.
– Persistent geopolitical risks, including trade negotiations and regional conflicts, feeding into safe-haven demand.
## EUR/USD: Steady Above Key Supports, Eyes on ECB
The EUR/USD currency pair remains a focal point as the euro seeks direction against the backdrop of recent ECB communications and shifting monetary expectations.
**Technical Analysis:**
– The pair is trading sideways near the 1.0700 support, forming a consolidation pattern following previous downward momentum.
– Bulls are guarding the recent swing low around the 1.0665-1.0680 zone, which coincides with the 50-day exponential moving average.
– Resistance is visible at 1.0780, marked by a trendline and prior highs. A break above this could open a path to the 1.0850 area.
– On the downside, a clear breach of 1.0660 could accelerate selling, targeting the 1.0600 handle.
**Key Indicators:**
– MACD histogram is crossing the zero line, suggesting neutral momentum in the short-term.
– Daily RSI remains near 50, reflecting indecision.
– The 100-day SMA above at 1.0830 poses a ceiling for near-term rallies.
**Fundamental Factors:**
– The ECB’s latest meeting signaled a pause in rate hikes as inflation moderates but reiterated data dependency for future moves.
– Euro area flash PMI data remain sluggish, suggesting subdued growth.
**Strategy Consideration:**
– Traders should monitor price action near 1.0700 for signs of bullish reversal or breakdown.
– Breakout traders can look for entries above 1.0780 or short below 1.0660, using tight stops.
## GBP/USD: Bears in Control, Testing Multi-Month Lows
The British pound continues to slide against the US dollar, pressured by weak UK data and ongoing monetary policy divergence.
**Technical Analysis:**
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Read more on AUD/USD trading.