Warning Signs on EUR Pound Daily

If you are thinking about going long on EUR/GBP you may want to take a wait and see approach. The daily chart is showing a potential topping formation with a potential head and shoulders formation playing out. The 30 ema has also crossed below the 93 ema. The head and shoulders pattern has not confirmed so we need to keep watch. Will the bulls bust out and trash this potential formation this week or will the bears take over and then confirm a sell after breaking the neck line?