Here we have an ascending channel and we have finally had 3 touches of the upper trend line (blue circles) suggesting a move towards the downside. We have also broken another trend line that has been respected. Market structure has also changed as price has now created a lower low marked by the red circle. Price is now currently retesting this broken trend line and in the form of a corrective structure (a small ascending channel) a bearish flag, before the continuation to the downside. Price is currently rejecting important Fib levels. This will create a head and shoulders, which indicates more sellers are present in the market than buys.
Let me know your thoughts and any other ideas you have for this pair.