Economists at Credit Suisse analyze GBP/USD technical outlook.

Support moves to the 13-day exponential average at 1.2636

With near-term and medium-term momentum positive, we look for strength to extend to the March/April 2022 lows at 1.2973/1.3000. Whilst we expect a better cap here initially, directly above would open the door for further gains towards 1.3091. 

Support moves to the 13-day exponential average at 1.2636 initially and then to the broken downtrend at 1.2601/2591, which we look to ideally hold to maintain the direct upside pressure.