On weekly chart we can find there was a huge bullish crab near 0.7730, and price rebounded back to 0.7890, failed to climb up over 0.79 level, a lower high means the continuation of downtrend.
From price action and ICH perspective, I prefer short the pair and target see below labels: 0.7730 baseline level cofluence with D point of bullish 0.7626 127% fibo Ext confluence with SMA 0.7490 168% fibo Ext conflunece with D point of AB=CD pattern.
Also beware the inflation data to be released tmr.