Phals are also "divas" in my opinion. If you change their location, temperature, light level or any other major factor, they will do that shriveling and pouting routine. Mine have always recovered from that. They do like to be watered regularly, but they also must be let to dry out between waterings, so be careful of that. Yours has good color and nice big leaves.
I'd advise you first pull the plant out of the pot and check on the status of the roots. If there are a lot of brown, dry or rotted roots, trim them off and then re-pot in some new bark mix. The directions on the package (you can get it at HD or Lowe's) are very good. White roots or any that are firm and green are healthy. Too many rotting roots in the pot means you've kept it a little too wet. If you leave the rotting material in there, it breaks down and retains more water which compounds the problem.
After you do this, just mist the leaves every day or two with plain water. If your water is hard and you start to see white deposits on the leaves, try using rain water if you can. Rain water is the best thing for orchids.
