GBP/USD struggles to recover above 1.2400

GBP/USD struggles to recover above 1.2400, according to the search results. Here is a summary of the information found:

  • The GBP/USD pair has rebounded above the round-level resistance of 1.2400 after a steep correction in the early Tokyo session1.
  • The Cable has climbed back above 1.2400 as the US Dollar Index (DXY) has retreated from 104.202.
  • The British Pound declined heavily below 1.2500 against the US Dollar. GBP/USD even broke the 1.2000 level before it found support. The recovery could fade near 1.24003.
  • GBP/USD returns above 1.2400 as USD Index retreats ahead of US Employment/Fed’s Beige Book4.
  • The dollar was unable to hold intra-day highs and GBP/USD recovered ground to trade around 1.2440 in early Europe on Tuesday as UK markets reopened5.
  • GBP/USD maintains a strong tone after recovering back above its 200-Day Moving Average. The prospects for GBP/USD to revisit the 1.2400 region now appear6.

In summary, while GBP/USD has rebounded above 1.2400 at times, it appears that the recovery may be short-lived and the pair may struggle to maintain levels above this resistance.

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