Forex Technical Major Pairs Analysis – October 24, 2025
By Richard Kaplan, originally published on FXDailyReport.com
Source: https://fxdailyreport.com/forex-technical-major-pairs-analysis-october-24-2025/
Overview
On October 24, 2025, global currency markets showed significant technical indicators across all major USD-related pairs. Traders have been closely observing breakouts, continuations, and retracements within a context of shifting global sentiment around economic data and central bank projections. This technical outlook focuses on the most traded currency pairs and provides a thorough breakdown of support and resistance levels, patterns, and potential setups.
1. EUR/USD – Struggles to Sustain Breakout Above Resistance
– The EUR/USD has attempted to break above the 1.0700 resistance level but faces strong headwinds.
– Recent movement shows bulls pushing toward the upper boundaries of its current consolidation range.
– However, there has been consistent selling pressure near the 1.0730 level, indicating market hesitation.
Key Technical Insights:
– Resistance: 1.0700, followed by 1.0730 and 1.0750
– Support: 1.0630, then 1.0600, with stronger support around 1.0570
– The pair remains in a consolidation pattern, with both buyers and sellers watching key economic data releases for a breakout trigger.
– Momentum indicators such as RSI and MACD show mixed signals, suggesting indecision.
Outlook:
The EUR/USD pair needs a confident close above 1.0730 to establish a new bullish trend. A failure to maintain gains could see a slide back below 1.0600, increasing downside pressure.
2. GBP/USD – Bullish Continuation After Clear Channel Breakout
– The GBP/USD pair has displayed considerable bullish momentum following a confirmed breakout from a descending channel.
– The successful attempt to push past 1.2200 signals fresh demand for the pound against a weakening US dollar.
– With interest rate speculation softening near-term USD strength, the pound may benefit as UK macro data stabilizes.
Key Technical Insights:
– Resistance: Current strong resistance is observed near 1.2300, followed by 1.2375
– Support: 1.2150 initially, with further support at 1.2100 and 1.2050
– Price is sustaining higher lows and higher highs, suggesting uptrend continuation
– RSI sits near overbought levels, which may lead to short-term consolidation
Outlook:
Further gains are likely if the pair can hold above 1.2200. A push above 1.2300 would reaffirm bullish control. However, caution is advised as short-term corrections may occur before further rallies.
3. USD/JPY – Approaches Psychological Zone Amid BoJ Watch
– USD/JPY trades near 150.00, a level closely watched by traders due to its psychological importance and possible intervention by Japanese authorities.
– Recent upward movement has been fueled by divergent monetary policies between the Federal Reserve and the Bank of Japan.
– The yen remains weak amid Japan’s ongoing ultra-loose monetary stance while the Fed maintains a relatively hawkish tone.
Key Technical Insights:
– Resistance: 150.00 (psychological), 150.50, and yearly high near 151.90
– Support: Immediate support is near 149.20, followed by 148.50 and 147.30
– The trend remains bullish, with upward momentum straightforward
– Analysts caution a potential retracement if intervention or rhetoric emerges from Japanese officials
Outlook:
The bullish trend is intact, but risk increases as prices hover near the intervention threshold. A break above 151.00 could spark panic buying, but traders should be alert to reversal signals.
4. AUD/USD – Struggles to Build Gain Amid Commodity Volatility
– The Australian dollar attempted a rebound against the US
Explore this further here: USD/JPY trading.