Possible Bearish Cypher Pattern Developing EUR/GBP 4hr chart

Euro in a downward channel with the GBP. 76% fib of the Cypher completion leg should be on the trend line. Previous areas of support/resistance can be found at this level also. The Stoch is starting to show signs of divergence.

Plan: If price manages to break the 61.8 fib, a short order placed at 76 fib with stop above the X leg.