From Macro Shocks to Chart Setups — This Week’s Trading Crossroads

Author

FX Rocket Profits
November 08, 2025

In partnership with

Layoffs Surge, Risk Fades & GBP/CAD Tests Resistance

Thursday’s session was dominated by labor market fears after Challenger data revealed over 153,000 U.S. job cuts in October — the highest for that month since 2003. The surge, driven by AI restructuring and budget constraints, amplified recession concerns and sent traders fleeing risk.

Equities dropped sharply, bonds rallied, and the dollar closed mixed. Gold held near $3,979, while Bitcoin sank 3% to $100,600. The government shutdown continues to cloud official data, making private reports like this even more impactful.

In FX, GBP/CAD is approaching a key resistance zone near 1.8550–1.8650. After bouncing from 1.8370, the pair now faces a retest of broken support. Bearish candlesticks here could signal a reversal back toward recent lows, while a break above may reconnect with the broader uptrend.

The theme? When job cuts surge and support turns resistance, traders must balance caution with conviction.

⚡Daily Broad Market Recap – November 6, 2025

  • S&P 500 rebounded nearly 1%; chipmakers surged 4%.

  • Gold rose 1.3% to $3,989; oil dipped to $59.50.

  • Bitcoin bounced 3.3% to $103,500; USD closed mixed.

🔥U.S. Job Cuts Hit 20-Year High

  • 153,074 layoffs in October, up 175% YoY.

  • Tech and warehousing led the cuts.

  • Fed rate cut odds for December rose to nearly 70%..

📊GBP/CAD Trend Break & Retest Setup

  • GBP/CAD testing 1.8550–1.8650 resistance zone.

  • Bearish signals could target 1.8370 or lower.

  • Breakout may revive the broader uptrend.

This issue blends macro stress with technical tension. As layoffs spike and GBP/CAD retests resistance, the message is clear: when uncertainty rises, structure and sentiment shape the next move.

Happy Trading!

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