FXStreet reports that the Credit Suisse analyst team notes that GBP/USD risk looks to be already shifting lower again and below 1.3750 would warn of a retest of key support from the March low at 1.3670/63.

“Support remains seen at 1.3750 initially, below which can see the base negated to clear the way for a fall back to 1.3695, then more likely a retest of the March low at 1.3670/63.” 

“Beneath the March low at 1.3670/63 would see the broader risk turn lower again with support then seen next at the 38.2% retracement of the rally from last September at 1.3641, then 1.3567. Whilst we would expect a hold here at first, below in due course can see a move back to the ‘neckline’ to the long-term base, potentially 1.3458/52.” 

“Above 1.3809 is needed to rekindle thoughts of a base for a test of the 55-day average, price resistance and potential downtrend at 1.3823/46, with fresh sellers expected here."