FXStreet reports that analysts at Credit Suisse expect GBP/USD to retest of key range support at 1.3601/1.3567.
“Support is seen at 1.3694/90 initially, ahead of 1.3633 and then a retest of key support from the lower end of converging range from late June, seen starting at 1.3601 and stretching down to 1.3571/67.”
“An eventual move below 1.3571/67 should resolve the range lower for the completion of a bearish “triangle” continuation pattern. We would then look for a more meaningful decline with support seen initially at 1.3520/15, the December 2019 high, then the ‘neckline’ to the 2019/2020 base at 1.3451/36.”
“Big picture, we would see scope for an eventual fall to a cluster of supports including the 38.2% retracement of the entire 2020/2021 bull trend at 1.3189/35.”
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