**Forex Technical Major Pairs Analysis: October 24, 2025**
*By Yohay Elam, originally featured at FXDailyReport.com*
The forex market continues to be shaped by global macroeconomic events, influential central bank decisions, and ever-evolving geopolitical developments. As we move through the final quarter of 2025, traders find themselves navigating both broad trends and sharp, intraday pivots. This comprehensive analysis examines the latest technical setups for major currency pairs, focusing on the EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD as of October 24, 2025.
## EUR/USD: Consolidation Near Support, Eyes on ECB Policy
The euro has traded within a consolidative range against the US dollar amid persistent Eurozone growth concerns. Despite the European Central Bank (ECB) maintaining its cautious stance on rate adjustments, the pair’s downside draws attention.
– **Current Price Action**: EUR/USD is trading near the 1.0700 level, marking a stabilization above recent support at 1.0650.
– **Technical Indicators**:
– The pair remains below both its 50-day and 200-day Simple Moving Averages (SMAs), indicating ongoing bearish pressure.
– Relative Strength Index (RSI) hovers near 40, suggesting neither oversold nor overbought conditions.
– **Key Levels**:
– Immediate support lies at 1.0650, followed by 1.0600.
– Resistance is found at 1.0750, with stronger barriers at 1.0800 and 1.0850.
– **Chart Patterns**: EUR/USD features a descending triangle on the daily chart, increasing the risk of a downside breakout if sellers regain momentum.
– **Potential Catalysts**:
– Dovish remarks from the ECB or disappointing Eurozone economic data could trigger a fall below 1.0650.
– Conversely, hawkish shifts or improved macroeconomic indicators might encourage a rally toward the 50-day SMA near 1.0800.
**Trading Strategy**: Cautious range trading is recommended, with a bias toward short positions on failed attempts to recover above resistance.
## GBP/USD: Steady but Vulnerable Amid UK Economic Headwinds
The British pound has shown resilience but faces ongoing headwinds from mixed UK economic releases and central bank recalibration. The Bank of England remains in focus as inflation persists above target, though growth indicators soften.
– **Current Price Action**: GBP/USD has settled around 1.2200, finding bids on dips but struggling to achieve meaningful upside momentum.
– **Technical Indicators**:
– Price trades between the 50-day SMA (1.2235) and the 200-day SMA (1.2300).
– Momentum indicators reveal subdued activity, with the RSI lingering near the neutral 50 mark.
– **Key Levels**:
– Support remains at 1.2150 and 1.2100.
– Resistance is at 1.2250, with a key breakout zone at 1.2300.
– **Chart Patterns**: The pair is forming a symmetrical triangle on the daily time frame, reflecting investor indecision.
– **Potential Catalysts**:
– Stronger UK labor market or inflation figures could lift GBP/USD above 1.2300.
– Weak GDP growth or a dovish Bank of England tone might push the pair to test the lower boundary at 1.2100.
**Trading Strategy**: Monitor for range breakouts, with stops tightened given recent volatility surges. A closing break above 1.2300 could see additional buying, while failure to hold 1.2150 may invite further selling.
## USD/JPY: Robust Uptrend Powered by Diverging Central Banks
The yen’s persistent weakness against the US dollar has come as no surprise, given the Bank of Japan’s ongoing loose policy
Read more on GBP/USD trading.