EU - descending triangle???

Bored with GJ move today, I eye-balled EU chart and noticed the pair is making a series of lower highs and developing a bearish descending triangle pattern on the H4 chart.

Should the price breaks the support at 1.3740, this might signify a 600 pips downwards to 1.31xx. Let see latter whether this pattern holds or not.

Below is the H4 chart as of 5 pm Malaysia.


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