The decline from 1.5930 could resemble a large ending diagonal, but the first part from 1.5930 to 1.5107 is more likely a leading diagonal and that could explain the downside acceleration we are starting to see. I'm look for a decline to 1.4166 as the next larger downside target.
Comment:
The 1.4166 target was tested today. If we close below this support then more downside towards 1.3907 should be seen.
