With the latest break below key-pivotal support at 0.7959 we see the internal 76.4 % retreatment at 0.8005 as decisively broken which implies that we can now expect a straight extension towards 0.7755/44 (pivot/50 % on higher scale).
An intermediate bounce could however occur anytime but would have to display two consecutive higher hourly closes of the lagging line above the cloud (currently at 0.7946) and a break above hourly trend line resistance at 0.7983 to support a stronger bounce into 0.8047/98 and possibly to 0.8242 (daily trend/int. 38.2 % on 2 scales).
Below 0.7983 though, the bears remain in full control and will most likely keep driving this intact downtrend towards 0.7755/44.
JPM