GBP/USD needs to hold 1.3669/48 to avoid an important top – Credit Suisse

The GBP/USD pair is showing signs of a potential top, with key support seen at 1.3669/48, as the Credit Suisse analyst team notes.

Cable to test key supports at the 1.3669/48 area

“GBP/USD strength has been capped ahead of key price and 200-day average resistance at 1.4000/0, leaving the immediate risk lower for a retest of a cluster of key supports seen at 1.3669/48, including the March and April lows and the 200-day average.”

“Below the 1.3669/48 region on a closing basis would mark an important top and a more concerted fall with support then seen next and initially at 1.3514.”