**Forex Technical Major Pairs Analysis – October 24, 2025**
*Adapted and expanded from an original analysis by Martin Jay, FXDailyReport.com*
The foreign exchange markets entered the final quarter of 2025 confronting persistent volatility, as investors digest a mix of economic figures, shifting central bank stances, and lingering geopolitical uncertainty. The major currency pairs have exhibited significant technical developments that merit close monitoring for traders and analysts alike. This comprehensive article explores those movements, delving into price action, support and resistance levels, and critical technical signals for several of the most traded currency pairs: EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. Additional context and technical insights are incorporated from contemporaneous market commentary and technical research reports.
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### EUR/USD Technical Analysis
The EUR/USD has endured another turbulent month, largely shaped by diverging monetary policy expectations between the European Central Bank (ECB) and the US Federal Reserve. The US dollar has regained traction amid better-than-expected labor data and renewed market bets that the Fed could keep rates elevated for longer. Meanwhile, the ECB’s cautious tone and sluggish eurozone economic indicators have undermined the single currency.
**Recent Price Action**
– The pair remains locked in a broad descending channel since the year’s second quarter.
– After failing to decisively clear the 1.0850 resistance, the euro retraced below 1.0700, exposing it to further downside risk.
– Momentum oscillators, including the Relative Strength Index (RSI) on the daily chart, reveal a bearish bias, though the indicator is not yet in oversold territory.
**Technical Levels to Watch**
– **Support levels:**
– 1.0640: Key level from the late-June swing low. Violation here could trigger additional selling.
– 1.0580: Multi-month support. Breach could initiate a test of the psychological 1.0500 mark.
– **Resistance levels:**
– 1.0750: Short-term resistance, aligning with the 20-day moving average.
– 1.0850/1.0880: Major resistance zone. Only a clean break above this could invalidate the bearish view.
**Outlook**
– Price is likely to remain in a downward trend unless a clear catalyst, such as a dovish shift from the Federal Reserve or surprisingly strong eurozone data, emerges.
– Watch for consolidation around the 1.0640–1.0700 range, with enhanced risk of a move lower if support fails.
– Technical indicators point to further weakness, but sharp short-covering rallies remain possible, especially if dollar momentum wanes.
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### GBP/USD Technical Analysis
Sterling has struggled for direction amid mixed UK economic signals and shifting Bank of England (BoE) interest rate expectations. The recent inflation readings surprised to the upside, but growth indicators hint at a stagnating economy.
**Recent Price Action**
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Read more on AUD/USD trading.