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Oct 31, 2025

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

Overall trend: Downward within a descending price channel.

MACD indicator in negative territory with momentum trending towards stability.

Price below the moving average, with weak potential for a correction.

Strong support at 1.3130 and significant resistance at 1.3260.

Reasons:
• Weak UK manufacturing data.
• Strengthening US dollar supported by positive US data.
• Expectations that the Bank of England will keep interest rates unchanged.

Expectation:
• A break below 1.3130 could push the price towards 1.3080.
• If the price bounces towards 1.3260 and fails to break, it may retest 1.3340.

 


 

EUR/USD Chart on the hourtly time frame

EUR/USD Chart on the hourtly time frame

Overall trend: Downward within a descending price channel.

MACD indicator is in negative territory with continued downward momentum.

Price is moving below the moving average, confirming weak buying pressure.

Strong support is found near the 1.1560 level (blue line).

Reasons:
• Continued strength of the US dollar, supported by rising bond yields.
• Inflationary pressures in Europe remain limited, reducing the likelihood of an interest rate hike by the European Central Bank.

Expectation:
• A break below 1.1560 could push the pair towards 1.1520 and then 1.1480.
• A bounce above 1.1600 could lead to a correction towards 1.1650.

 

USDJPY chart on the hourly time frame

USDJPY chart on the hourly time frame

Overall Trend: Upward within a stable price channel.

MACD indicator is in positive territory, indicating strong upward momentum.

Price is above the moving average, supporting the upward trend.

Reasons:
• Divergent monetary policies between the US Federal Reserve and the Bank of Japan.
• Rising US Treasury yields boost demand for the dollar.
• Weak yen due to continued accommodative monetary policy.

Expectation:
• Continued upward movement towards 154.80 and then 155.40.
• A break below the 153.50 support level could open a correction towards 152.90.

 

 

- A look at yesterday report dated October 30, 2025.

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