GBP/USD remains strong after completing its bullish continuation pattern above 1.6258/62 and breaking its medium-term downtrend from 2009, and a move above the 1.6379 high for the year from January has been seen overnight before retracing slightly lower, notes Credit Suisse. "Near-term resistance at 1.6455 should be allowed to cap at first, ahead of a test of 1.6483. A fresh pause here will be looked for, ahead of strength eventually extending back to 1.6619, the measured target from the base. Near-term support moves around 1.6354, with 1.6314 ideally holding to keep the immediate risk higher," CS projects. In line ... (full story)