**Forex Technical Analysis: Major Pairs Outlook for October 24, 2025**
Original analysis by Tani Parker, sourced from FXDailyReport.com
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The foreign exchange market continues to capture the attention of macro traders, institutional investors, and retail participants alike as we navigate the final quarter of 2025. This analysis offers an in-depth technical assessment of the major currency pairs for October 24, 2025: EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. In addition to referencing the core perspectives and predictions first published by Tani Parker for FXDailyReport.com, this article integrates commentary from recent institutional research, providing a comprehensive outlook for traders.
## EUR/USD: Limited Recovery Amid Persistent Downtrend
EUR/USD has been under sustained pressure throughout the second half of 2025, with the currency pair repeatedly failing to engineer a meaningful rally above key resistance levels. Recent sessions have seen short-term corrective bounces, but the pair remains entrenched in a broad downtrend due to macroeconomic divergence between the Eurozone and the United States.
**Technical Overview:**
– **Current Trend:** Bearish bias dominates, with lower highs and lower lows on the daily chart.
– **Immediate Support:** 1.0500 psychological level; a breakdown here could open further downside toward 1.0450 and 1.0400.
– **First Resistance:** 1.0650, coinciding with the 50-day moving average.
– **Second Resistance:** 1.0720, aligning with a descending trendline and prior swing highs.
– **Momentum Indicators:** The Relative Strength Index (RSI) remains below 50, suggesting continued weakening momentum. MACD histogram signals maintain a negative bias but show the potential for minor short-covering rallies.
**Fundamental Influences:**
– Strong US economic data, including robust job creation and consumer spending, has fueled speculation the Federal Reserve may delay rate cuts until early 2026.
– The European Central Bank, on the other hand, faces stagnating growth and inflation that consistently undershoots target levels, constraining its ability to tighten policy.
**Outlook:**
– **Bearish traders may monitor for a confirmed break below 1.0500** to target new lows.
– **Bulls will need to see a daily close above 1.0720** to build confidence in a stronger corrective move.
– In the absence of a catalyst for Eurozone recovery or a surprise shift in Fed guidance, any rallies may prove short-lived.
## GBP/USD: Consolidation Post-Selloff
After slipping from the heights it reached earlier in the summer, GBP/USD has entered a phase of consolidation, wedged between strong levels of support and resistance. This reflects market uncertainty over the future direction of both the British economy and the Bank of England’s monetary policy.
**Technical Overview:**
– **Current Trend:** Neutral-to-bearish, with a significant support base
Read more on AUD/USD trading.