GBP/USD Analysis: Break back above 1.2400 needed to inspire bullish reversal [Video]

LMAX Group Research Desk LMAX Group

The recent breakdown below 1.2400 has opened the door for a fresh downside extension towards the major cycle low from 2016 in the 1.1800s. Longer-term studies continue to suggest the market should be looking to start turning back up, though at this stage, the pressure remains on the downside and it will take a break back above 1.2400 to take the immediate pressure off the downside and revive the outlook supporting a longer-term base.

In this analysis, we take a look at GBP/USD each day, highlighting all of the need to knows for anyone looking to extract up to date information on major levels and relevant trends, both short term and longer-term. The analysis is designed for the trader, investor and even those simply holding Sterling (Pounds) or US Dollars, looking for an idea of where they may want to consider making that next conversion.

The GBP/USD update is new each day and is presented with an added layer of animation, in an effort to make the analysis as engaging as possible, while also communicating the message with respect to key trends and levels in an easy to understand, seamless manner with great value add to all.

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LMAX Group Research Desk

LMAX Group

LMAX Group is a dynamic, visionary and award-winning financial technology company.

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