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EUR/GBP - Imminent Breakout to Signal Bearish Continuation

EUR/GBP rallied from a low on the year of 0.7014 to 0.7384 in March. Then it started to trade sideways as we can see in the 4H chart. 

EUR/GBP 4H Chart 4/13
(click to enlarge)

After about 3 weeks of messy price action, we can see a consolidation range roughly between 0.7220 and 0.7385. As we start the week, The pair is now cracking the consolidation support. Some would call this a double top, but whatever you call it, the important thing is that the prevailing trend is bearish, and there is a bearish breakout from a consolidation pattern.

In the 4H chart, we can see that if the current breakout extends, there might be a first reaction around the 0.7150-0.7175 support/resistance area. If this area breaks, then the market is likely to open up the 0.7014 low on the year with risk of falling further in line with the prevailing trend.