GBP/USD: Capped by the 200-day MA at 1.2657 – Credit Suisse

Cable is trading up 45 pips to 1.2502
Credit Suisse discusses GBP/USD technical outlook and
Support is seen at 1.2442/38 initially, below which would complete a
small intraday top to see a retreat back to 1.2361 initially, then the
1.2176/66 corrective low and 38.2% retracement of the rise from March. 
Below here would open up a move