FXStreet reports that the Credit Suisse analyst team discusses GBP/USD prospects. 

“Below 1.3742/34, GBP/USD can resolve the range lower for a test of more important medium-term support seen starting at the 200-day average at 1.3697 and stretching down to 1.3669/48 – the April low and 38.2% retracement of the rally from last September.” 

“Whilst we would expect fresh buyers at the 1.3669/48 region, failure to hold would instead mark a major top and change of trend lower with support then seen next at 1.3567, then 1.3514.”

“Resistance is seen at 1.3801/05 initially, above which can see a move back to the high from Friday and 21-day exponential average at 1.3863.”