The spot rate approach to the lower limit of its medium term bearish channel in 1.5530 suggesting a rebound. However a break of these levels would entail a bearish channel more violent.
According to previous events, the market indicates a bullish opportunity on the levels of 1.5530 with a 1st objective of 1.5590, then 1.5620. A break in 1.5510 would invalidate this scenario.