The following is a rewritten version of the “Weekly Forex Forecast (23rd to 28th November 2025)” originally published on DailyForex.com by Christopher Lewis. This rewritten content expands on the analysis and presents it in a new format while giving full credit to the original author.
Weekly Forex Forecast: November 23–28, 2025
By Christopher Lewis | Source: DailyForex.com
As we approach the final week of November, the forex market continues to respond to a combination of economic indicators, geopolitical developments, and central bank policies. Traders are navigating market volatility with caution, and as such, understanding technical levels and sentiment trends is critical.
This week’s forecast focuses on key currency pairs, highlighting prominent support and resistance zones, potential trading setups, and the macroeconomic sentiments steering movements. Here’s a detailed breakdown of the major pairs:
EUR/USD:
The euro continues to show signs of consolidation around the 1.0900 region. Markets remain closely tied to expectations for the European Central Bank’s rate policy, while dollar strength has been fueled by robust US economic performance and hawkish commentary from Federal Reserve members.
Key Technical Insights:
– The EUR/USD pair has hovered near the 1.0900 mark, reflecting indecision in the market.
– The 200-day Exponential Moving Average (EMA) just below current price levels serves as dynamic support.
– A bullish breakout above recent highs around 1.0960 could open the door to the psychological resistance level near 1.1000.
– On the downside, strong support lies near 1.0850 followed by 1.0800.
Watch for:
– Eurozone inflation data and any commentary from ECB officials.
– US economic data including GDP and consumer spending figures.
– A breach above 1.0960 could signal a short-term bullish momentum, aiming for 1.1050.
– A move below 1.0850 would likely shift bias back to the downside.
GBP/USD:
The British pound remains under pressure due to concerns about the UK economy, particularly with slowing GDP growth and persistent inflation. Although the Bank of England retains a relatively neutral stance, markets speculate on whether further tightening is feasible.
Technical Landscape:
– The GBP/USD pair is struggling to sustain gains above the 1.2500 level.
– The 50-day EMA, currently observed near 1.2460, has acted as intermittent dynamic resistance.
– Resistance zones are seen at 1.2560 and 1.2620.
– Key support resides around 1.2400, with further support near 1.2350.
What Matters This Week:
– UK labor market data and retail sales could influence near-term direction.
– Market participants will assess statements from Bank of England policymakers for rate guidance.
– Should the pair break below 1.2400, momentum could favor sellers aiming for sub-1.2300 levels.
– However, a move over 1.2560 may target the 200-day EMA, adding strength to bullish sentiment.
USD/JPY:
The yen has seen renewed selling pressure as the Bank of Japan remains ultra-dovish, even as other global central banks lean towards tightening. The USD/JPY remains a popular carry trade candidate, reflecting ongoing interest differentials.
Key Developments:
– The pair hovers above the 149.50 mark, maintaining an upward bias.
– Resistance is clearly defined near the 150.50 region, around a multi-week high.
– Support levels are seen at 148.80 and 148.00.
Factors Driving This Pair:
– The US 10-year Treasury Yield remains a prime catalyst.
– Intervention fears from Japanese authorities loom if the yen tumbles further.
Observe For:
– If USD/JPY closes above the 150.50 level, it could sustain gains toward the 151.50 area.
– However, consistent inability to breach resistance may trigger technical selling, especially below 148.80.
AUD/USD:
Explore this further here: USD/JPY trading.