It's going down further, because it seems like most of the people would buy on every drop, thinking it's had already enough, which is dangerous, because it will always try to hit your sls.
Stay safe. Friendly reminder, always set a stop loss, a tp and have enough equity, so you won't get hit by a margin call. Also, though it's alright to ask opinions, I suggest you take each person's speculations with a grain of salt. There a people especially me, who talk ****most of the time. Do an analysis with your own effort because it allows you to be more certain of your actions. Compare the every data there is. Information is at your fingertips.
Look at the graph and you'd might guess it'd be around 111.8 but it seems like it can go 10-20 more pips lower for today. Today as in according to the clock in this forum. Once it's a new day, it can go much lower or higher.
If I were you guys, I'd stay out of this until a clear direction is set. Everyone's mostly screaming selling, and this barely dropped. And if most of the traders here are making profit, would brokers still be around? Do your own analysis, and be patient.