EURUSD printing lower lows and lower highs while moving withing the descending channel. On Friday 24.07, upper channel trendline has been rejected together with the 50% Fibonacci retracement level. This indicates on a strong bearish trend that has just been established. Overall current price pattern should result in a potentially strong drop with the final target being at the 361.8% Fibs, that is 1.03 area.