I have highlighted the route I expect the pair to take, clearly moving down towards the left-shoulder completion, the 200EMA and the neckline. This pair does have a recent historical precedent which I have highlighted in October where an inverse head and shoulder pattern played out as I expect this to with a clear bias to the neckline. I wanted to short this pair today but didn't given the bank holiday (damn!) but still think there's lots of scope for downside continuation here and a reversal of the uptrend (we have also broken the key on the H4 chart).
My analysis last week was decent and here's to hoping for a similar start to the new trading week!