The price looks like it is still stuck in the channel and is unable to breakout, the price has tested the resistance level over the last couple of days, but it was unsuccessful in doing so. The price has now showed negative signs with the RSI being below 50, meaning it is in a great position to move further down. I believe that this pair is going to be moving down over the coming days and would be testing the support of the channel. I will keep everyone updated on price patterns and fundamentals which may change the direction of this pair over the coming days.