**Forex Technical Major Pairs Analysis – October 31, 2025**
Original article by Aza Mahdi, FXDailyReport.com
As we approach the close of October 2025, the foreign exchange markets continue to respond dynamically to global economic data, central bank policy decisions, and geopolitical developments. Major currency pairs are displaying varied technical structures, with some pairs poised for potential breakouts while others remain in consolidation phases. This article delves into the technical outlook for major pairs including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. Utilizing key support and resistance levels, trend analyses, and relevant indicators, traders can better prepare for the opportunities and risks in the days ahead.
—
### EUR/USD: Testing Short-Term Resistance
The EUR/USD pair has been on a corrective recovery after periods of significant volatility earlier this month. Despite ongoing challenges in both the eurozone and the United States—ranging from economic growth concerns to revised central bank guidance—EUR/USD remains one of the most watched pairs globally. Technically, the pair is flirting with a critical resistance zone, and whether the bulls or bears take the upper hand will be determined by upcoming economic data and shifts in sentiment.
**Technical highlights:**
– **Current price**: The pair is trading near the 1.0650 level, attempting to build on its recent bounce from the 1.0530 support region.
– **Key support levels**:
– 1.0580 to 1.0530 zone remains the primary support, recently affirmed by a double bottom on the daily timeframe.
– If broken, the next significant support lies at 1.0480.
– **Key resistance levels**:
– Immediate resistance at 1.0700.
– Above that lies the 1.0770 to 1.0800 area, which marks a convergence zone of the 50-day and 200-day moving averages.
– **Chart patterns and indicators**:
– RSI is hovering close to the 50-point neutral line, showing indecision.
– MACD histogram is displaying early signs of a shift in momentum, though follow-through buying is yet to be confirmed.
– Price action is trapped within a wide-ranging consolidation channel; a decisive break beyond either 1.0530 or 1.0800 could lead to a trending phase.
**Technical summary:**
If EUR/USD can maintain price action above the 1.0650 pivot and breach 1.0700 resistance decisively, bulls may target 1.0800 and beyond. Failure to uphold recent gains may pull the pair back to test the 1.0530 support basin.
—
### GBP/USD: Consolidation Within an Upward Structure
Sterling has held its ground against the dollar, reflecting resilience in UK economic data and relatively hawkish commentary from the Bank of England. GBP/USD’s technical structure suggests a period of consolidation within an upward channel, poised to respond to cues from both the UK labor market and US inflation prints.
**Technical highlights:**
– **Current price**: GBP/USD is trading in the vicinity of 1.2200, after rebounding from the month’s low at 1.2065.
– **Key support levels**:
– 1.2130, which coincides with the 20-day moving average.
– Further downside may see buyers at 1.2065 and 1.2000 round number support.
– **Key resistance levels**:
– Overhead resistance is notable at 1.2270 and then at 1.2380, the recent swing highs.
– **Chart patterns and indicators**:
– A clear ascending channel is visible on the 4-hour chart.
– Stochastic oscillator is nudging overbought territory, potentially signaling near-term exhaustion.
– MACD remains in positive territory, supporting the upside bias as
Read more on GBP/USD trading.