Looking at the daily chart, we can see that the head and shoulders pattern is still in play. I spotted a downward channel forming, which suggest that we should see a move downward soon. Further confirmation comes at the hand of the major sell off tail we see on the daily chart. Clearly we see some aggressive sellers in the market and they are making the price stay true to the downward channel's upper trend line. Looking for price to rebound around the 1.1450 area. A reversal may be appropriate in this area, but only time will tell.