The ECB (European Central Bank) doesn’t seem very determined to strengthen the interest rate policy, which could be shying away investors.
GBP/USD, which tends to move relatively the same as EURUSD has seen stronger moves, further proving that the Euro is weakening but the dollar isn’t strengthening. Even amidst all the chaos, it seems like investors are favoring the dollar over the Euro as a safe haven.
The resistance level is also a big reason, as price approached 1.18041, it lost a significant amount of volume and struggled to go on further.
In good news, you can also see that price failed to break below the lows at 1.17022, which does provide some strength and possibility for recovery.
(This is just my opinion, not financial advice)