Looks like we should have a continuation to the downside with this pair.
These are my thoughts: Overall trend is bearish PA (price action) is under the 200ma on the D time frame PA has moved quite a bit highter than the 20ma on the D time frame (insinuating a snap back) PA is running into the .618 retracement level
We will see how this plays out but I think the odds are in our favor for a short position.