The downward movement has happened as expected. The price has renewed its minimums and is unlikely to stop there. As noted earlier, the observed decline in the pair is due to the development of the Y wave, which is probably in the final stage of its formation.

It also cannot be ruled out that this is not a correction, but an initial diagonal triangle. However, in any case, soon the price is expected to rebound upward, either in an impulse or in a corrective form. But this is later. Now the price will probably continue to decline.

Investment idea: sell 1.1580, stop loss 1.1620, take profit 1.1450.