EUR/USD H4 | Bearish reversal

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08.02.2024 05:12 AM

For EUR/USD (Euro/US Dollar), there's a potential bearish reversal scenario indicated by the following key levels:
Resistance Levels:
The 1st resistance level at 1.07995 is identified as "Pullback resistance," suggesting a significant barrier where selling pressure could intensify, potentially leading to a reversal in the price trend.
The 2nd resistance level at 1.08526 is described as "An Overlap resistance," indicating another level where sellers might be active, reinforcing the bearish sentiment.
Support Levels:
The 1st support level at 1.07247 is recognized as "An Overlap support,"

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