This formation is indicates overall bearishness building up on EURUSD making price likely to push down further on the 4 hour time frame.
Key support levels include: 1.1125 and 1.11.
Key resistance levels include: 1.12 and 1.1225
In the case price break below the support (bottom line of the channel) and key support levels, price would likely push down further.
Key targets for short positions include 1.09 and 1.085.