There's a multiple-bar pattern formed under the 1.2675 . Then we have a pattern that caused a false break of the pattern. This false break trapped those breakout traders and this pattern could lead price lower in today's London session. Ideally we would prefer the pattern to pierce through the upper band of the but the current pattern could still drive the price lower. Note that the indicator and are showing the price is currently overbought which adds fuel to the bears. The ATR also shows that the has been increasing in the last two days which is good for the bears. We could have great selling opportunities in today London session with all the indicators supporting the bears.