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Stalking the EUR/USD Bearish Continuation

Yesterday I proposed that EUR/USD's price action around a key resistance suggested that it was ready for bearish continuation. Today, we are seeing the bearish continuation scenario materialize.

EUR/USD 4H Chart 7/30
(click to enlarge)

As we can see in the 4H chart, the EUR/USD broke below a rising speedline yesterday after the FOMC statement, which showed that the FOMC still has a year-end rate hike on the table. Today, we saw somewhat disappointing GDP data out of the US, but the EUR/USD still looks bearish. 

Now, if we get a pullback, look for resistance around the 1.10 area., The downside risk at the momentum is just above 1.08 in the short-term, but is the 1.0460-1.0520 2015-lows in the medium-term.