FXStreet reports that analysts at Credit Suisse note that GBP/USD maintains a bearish “reversal day”, raising the prospect of further weakness in the sideways range of the past three months with a break below 1.4091 needed to mark a near-term top.

“Support moves to 1.4112 initially, then more importantly at the 1.4091 recent low. Beneath here would see a small top complete to clear the way for a deeper setback to the March/May base at 1.4017/06. We would now see scope for a move below here to the uptrend from March 2020 at 1.3982/77, potentially even the 55-day average at 1.3942, but with this level expected to prove a better floor.” 

“Resistance stays seen at 1.4184/92 initially, above which can clear the way for a move back to 1.4213, then a retest of 1.4238/49."