The EUR/USD pair has broken below a key trendline, indicating a potential bearish reversal. The formation of a Double Top pattern further supports this bearish outlook.

Technical Analysis:

• Trendline Break: The breakdown below the trendline suggests a potential downtrend.
• Double Top Pattern: The formation of a Double Top pattern, with a neckline at 1.1001, confirms a bearish reversal.
• Downside Targets: A potential downside target is 1.0858, the 61.8% Fibonacci extrapolation of the height of the Double Top pattern.
• Support: The 200-day Simple Moving Average (SMA) at 1.0875 may provide some support.

Overall Outlook:

The EUR/USD pair is facing downward pressure, with potential for further declines. Traders should monitor technical indicators for signs of a trend reversal.