EUR/USD: Weekly Resistance Signals Bearish OutlookEUR/USDOANDA:EURUSDMichael_Fx_TraderEUR/USD is approaching a decisive area on the weekly timeframe, where price is testing a major Strong Support & Order Block around the 1.12–1.14 region. After an impressive rally from the Strong Weekly Fair Value Gap (FVG) near 1.02, buyers successfully pushed the pair into higher liquidity zones. However, recent price action suggests bullish momentum is fading as the market struggles to maintain higher highs. The highlighted Weekly Fair Value Gap above 1.20 remains unfilled, but repeated rejections before reaching this imbalance indicate that sellers are becoming increasingly active. The inability to sustain bullish continuation near previous highs points to weakening demand and raises the probability of a deeper correction. The current Strong Support & Order Block is acting as the last major defensive zone for buyers. A weekly close below this area would confirm a bearish shift in market structure and could trigger a move toward the Internal Range Liquidity (IRL) zone around 1.05–1.07. This liquidity pool is a logical downside target, as markets often seek internal liquidity before establishing a new directional move. From a Smart Money Concepts (SMC) perspective, the market has already delivered a significant bullish expansion from the weekly demand zone. With price now stalling beneath higher-timeframe resistance and failing to revisit the upper Fair Value Gap, the current structure favors a corrective move unless buyers regain strong momentum. Key Levels to Watch: Major Resistance: 1.20–1.21 (Weekly Fair Value Gap) Current Support: 1.12–1.14 (Strong Support & Order Block) Bearish Target: 1.05–1.07 (Internal Range Liquidity) Major Demand: 1.02 (Strong Weekly Fair Value Gap) Trading Outlook: The weekly bias is cautiously bearish while EUR/USD trades around the major support and order block. A confirmed breakdown below 1.12 would strengthen the bearish case and increase the probability of a decline toward the Internal Range Liquidity zone. Conversely, if buyers defend this support and reclaim higher resistance, the pair could resume its long-term uptrend and eventually target the Weekly Fair Value Gap above 1.20. Overall Bias: Bearish 📉 while below the recent highs, with 1.12 serving as the key decision level for the next major move.