Price crossed below the 200MA indicating bias
Weekly: since mid 2009 lower lows and lower highs formed. However since march pair in a bit of consolidation. Therefore, If pair does breakout to the downside, it may be rather explosive
Daily: MA crossing over to downside.
Likely move now is a third touch of the , as indicated by the red arrow. If broken, new lows to be expected with immediate target being the round number of 0.7000, then 0.6950, which is the -27% fib level.
However, if the holds, then price may move back up to give a third touch in the descending ( ), as shown by the blue arrow.