We can see here 3 GAPS from daily chart(lime rectangles). Look how nice this pair bounced from the latest daily GAP. It also created upside-down head and shoulders formation( not fully developed yet) which is clearly saying that the pair will most likely move higher. I had some problems with setting up TP but I think 1.6222 is very reasonable with R/R close to 3.6. 200 EMA should help pair move higher if it will consolidate for a longer time.