GBP/USD maintains a “head & shoulders” top and analysts at Credit Suisse stay biased lower for a deeper corrective setback to the 55-day moving average (DMA) at 1.3753. Key quotes “Cable’s strength has been capped at the 13-day exponential average at 1.3905 and with a small ‘head & shoulders’ top in place we continue to look for a more concerted phase of corrective weakness. Below 1.3800 is needed to add weight to this view for a fall back to 1.3779/76, then the 55-day average at 1.3753, which we look to hold at first.” “Our bias is now for a break below the 55-day average at 1.3753 for a test of 1.3741/31 next and then the medium-term uptrend from March 2020, today seen at 1.3680. Below here can see support next at the 38.2% retracement of the September/January rise at 1.3641, with the ‘measured top objective’ seen at 1.3478.” “Resistance moves to 1.3925 initially, with 1.3954 now ideally capping to keep the immediate risk lower. Above would raise the prospect we are set for a high-level consolidation range, with resistance seen next at 1.4017.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CAD posts modest daily gains around 1.2650 ahead of BoC policy announcements FX Street 1 year GBP/USD maintains a "head & shoulders" top and analysts at Credit Suisse stay biased lower for a deeper corrective setback to the 55-day moving average (DMA) at 1.3753. Key quotes "Cable's strength has been capped at the 13-day exponential average at 1.3905 and with a small 'head & shoulders' top in place we continue to look for a more concerted phase of corrective weakness. Below 1.3800 is needed to add weight to this view for a fall back to 1.3779/76, then the 55-day average at 1.3753, which we look to hold at first." "Our bias is now for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.