The spot rates approaches the upper limit of its short-term bullish channel at 1.6150 suggesting a decline. However a break of these levels would allow it to begin a more violent bullish trend.
According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6150 with a 1st objective of 1.6230, then 1.6260. A break in 1.6130 would invalidate this scenario.