Overview:
GPB/USD: According to previous events, the price has still been trapped between 1.6120 and 1.6060; thus, it is reasonable to be careful with action around this area. Therefore, the first step is waiting for a period of tight sideway range market before breakouts. So, the market will probably start showing the signs of bullish market at the level of 1.6015. In other words, it will be a good sign to buy above 1.6015 with a first target of 1.6050 and it will climb towards 1.6113. However, if the the pair cannot break 1.6122, the market will indicate a bearish opportunity below 1.6122 (a double top will be formed at 1.6117), then the level will act really as strong resistance, for that it will a good sign to sell below 1.6122 with the first target of 1.6045 and it will call for downtrend in order to continue bearish towards 1.6012 (50% Fibonacci retracement levels).
Notes:
Support: 1.6000 Resistance: 1.6122