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Pair seems to be heading downwards after a rally from the 7th to 19th of August. On the other hand, pair has been depreciating since the beginning of August and Channel Down pattern at hand should be seen more as a continuation of this trend. Short term technicals point at further appreciation of the pair which seems are very likely prospect at the moment. Taking in to account t how pair was acting in the neighborhood of 200-bar SAM after it hit pattern's resistance last time we could rather confidently say that bullish, if bullish at all, breakout should not take place in the nearest future and pair should maintain bearish trend in the long term.
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