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EUR/GBP Setting up Head and Shoulders?

The EUR/GBP looks like it is setting up a head and shoulders situation. The consolidation/topping pattern is forming just after a bullish break from key resistance factors.


(EUR/GBP 4H chart)

The bullish outlook is still the dominant one in the 4H chart, but there is some very short-term downside risk, especially if the price falls below the 0.8325, which would complete the head and shoulders. 

There is downside risk toward the 0.8280-0.83 area, and if the market does slide back even lower, it will be challenged by a rising trendline from mid-February.