Following Lilly's rules:
if the lord of the 7th (mars) or the moon (if the quesited is a man) be joined to the lord of the triplicity then ascending (mercury), and moon separates from the lord of the ascendent (Venus) it seems that he has some friend that he loves besides the querent.
Moon's last aspect was to Venus, and is now just separating from a conjunction with mercury.
Further from Lilly:
The lord of the 7th, or the moon, or both, separating from any other planet but the lord of the ascendent, and he not separated above three degrees (which is the case of the chart you posted), he did love another, but he has now left her.
Mercury denotes a young person. "a young clerk or merchant, lawyer or writer, a witty, nimble person. "
With reference to your consideration about children, the ruler of his 5th on the cusp of his 2nd could also refer to financial obligations he has towards the children.