The spot rate approaches the upper limit of its bullish channel at 1.6790 suggesting a decline in the short term. However a break of these levels would initiate a more violent bullish trend.
According to previous events, the market indicates a bearish opportunity on the levels of 1.6790 with a 1st objective of 1.6690, then 1.6650. A break in 1.6820 would invalidate this scenario.
