The spot rate broke yesterday the upper limit of its medium term bullish channel in 1.6070 leading to an acceleration. A pull back on these levels is expected before a resumption of bullish.
According to previous events, the market indicates a bullish opportunity on the levels of 1.6070 with a 1st objective of 1.6190, then 1.6220. A break in 1.6040 would invalidate this scenario.
