The US dollar is kicking off the session mixed. EURUSD
and GBPUSD are lower (firmer USD), while USDJPY is also lower (softer USD vs
JPY). As we head toward the North American session and the end of the week,
the focus shifts to whether these pairs can break out of tight ranges and
establish clearer directional control.

EURUSD technical analysis: Tight weekly range keeps
traders waiting

The EURUSD remains confined to a narrow 70-pip range for
the week, signaling a market still searching for conviction. That type of
compression often precedes expansion. The key question is whether buyers or
sellers can force a breakout and extend the range.

Upside resistance levels

The high today stalled at 1.1830, the 50% midpoint of
the recent move. Monday’s high reached 1.1834 before rotating lower.
That 1.1830–1.1834 area is key resistance.

A break and sustained move above that zone would increase
the bullish bias and shift focus toward:

• 1.1860
  as the next upside target
• 1.1889,
  the broken 38.2% retracement of the 2026 trading range

Until that area is cleared, upside momentum remains limited.

Downside support levels

The European session rotation lower pushed price below the 200-hour
MA at 1.1801, but buyers stepped in at the 100-hour MA near 1.1793.

If the price falls below the 100-hour MA, traders will look
toward:

• 1.1765–1.1778,
  the swing area floor for the week
• 1.1741,
  last week’s double bottom
• 1.1691,
  where the 100-day MA comes into focus

A break below the weekly floor would likely increase
downside momentum.

EURUSD outlook: The pair remains range-bound, but
pressure is building. A decisive move outside the 70-pip range could trigger a
stronger directional run.

USDJPY technical analysis: Failed breakout shifts
momentum lower

The USDJPY is correcting earlier gains after failing
on a topside breakout.

Yesterday’s rally pushed above the 156.20–156.28 swing
area and extended through a topside trendline near 156.60, but the
break could not be sustained. The pair rotated lower into the close.

In the Asian session today, price broke back below 156.20,
accelerated to a low of 155.72, and then bounced.

Key pivot level: 156.20–156.28

This former support zone now acts as resistance and remains
the key short-term barometer.

If the price moves back above 156.28 and holds, buyers
regain control.

If the price stays below 156.20, sellers maintain the edge.

On further downside pressure, the next target is the rising 100-hour
MA near 155.47.

USDJPY outlook: The failed breakout shifts the
short-term bias lower unless buyers can reclaim the 156.20–156.28 zone.

GBPUSD technical analysis: Buyers defending short-term
support

The GBPUSD made a new Asian session high, breaking
above yesterday’s high near 1.3565 and reaching 1.3575. However,
it stalled just ahead of the swing resistance zone between 1.3582 and 1.3590.

In the European session, price rotated lower:

• Broke
  below the 200-hour MA at 1.3526
• Moved
  under the 1.3526–1.3537 swing area
• Found
  support ahead of the rising 100-hour MA at 1.3512

The pair has since rebounded and is now trading back above 1.3536.

Holding above that reclaimed swing area keeps buyers in
short-term control. A move back below would shift focus toward the 100-hour MA.
A break above 1.3575 would bring the 1.3582–1.3590 resistance zone back into
play.

GBPUSD outlook: Buyers remain active, but upside
momentum needs to clear the 1.3580 area to strengthen the bullish case.

North American session focus

Across the board, these pairs are sitting near inflection
points:

• EURUSD
  remains compressed within its weekly range
• USDJPY
  is testing sellers after a failed breakout
• GBPUSD
  is trying to hold reclaimed support

As we move into the North American session and toward the
weekly close, watch for range expansion and momentum confirmation around the
key technical levels outlined above.

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