EURUSD – Bearish Pressure IntensifiesEURUSD is currently facing rejection at the GAP resistance area near 1.17350, combined with a lower high structure forming within the ascending channel. Price action shows clear signs of weakness after filling the GAP, and the aligned FVG zones below suggest a potential for deeper downside.
If the price remains capped below 1.17350, there is a high probability of a pullback toward the 1.16300 support area — which aligns with the long-term ascending trendline. A break below this level could extend the bearish move toward the deeper region near 1.14500.
Supporting Fundamentals:
Strong US Core PCE → reinforces expectations that the Fed will keep rates higher for longer.
Weak EU manufacturing PMI → puts pressure on the euro.
FOMC minutes and NFP — if hawkish — could strengthen the USD and weigh further on EURUSD.
