Now, it's obvious that the ascending channel resistance I talked about on the 4h timeframe this morning seems to be holding. You can see how the price is rejecting the resistance and has closed lower than the 1.09500 level. Also, a counter trendline I drew has been broken to the downside which acts as added confluence for a possible continuation downwards. This means there's a very high chance that the price will retest that level as resistance and continue downwards.