The spot rate approach to the lower limit of its medium term bullish channel in 1.3040 suggesting a rebound. However a break of these levels would entail a bearish channel.
According to previous events, the market indicates a bullish opportunity on the levels of 1.3040 with a 1st objective of 1.3090, then 1.3120. A break in 1.3020 would invalidate this scenario.