The pair is forming a decending triangle. The channel of the triangle was faked out twice. It also formed a perfect head and shoulder formation. If you draw a fibonacci retracement, you would see that the head was formed on the 38.2% and could not break. The shoulders are formed on the 23.6% and a retest coming up to retest that same line. I strongly believe it is going down to the 0.73800 zone with price being squeezed in the channel a big move is coming.