Bearish: Currently we are at 0.6413 in a channel in a range after a Trend breakout. We are looking for a move down to the ATR target @ 0.6128 and then the 0.382 Fibo @ 0.6238. Look for the bounce there. The Average Daily True Range (ATR) for the pair currently is 86 pips. WATCH THE USDX for more clues.