The FTSE 100 has been very noisy during the trading session on Thursday, as we will be paying attention to the jobs number coming out of the United States. It’s not necessarily due to anything with the FTSE 100 itself, but it has more to do with the GBP/USD pair. I think that the GBP/USD pair falling will of course help lift the idea of cheaper exports coming out of the United Kingdom, and that should let the FTSE 100 in general. With the jobs number coming out today, if we get a search higher in the greenback, that might be enough to push that market lower, breaking the back of the last vestiges of support, and thereby making the British economy cheap.
I believe that the 7250-level underneath is massively supportive, as it was previous resistance. I don’t think we get that low though, and I believe that the 7440 level is probably a more likely area where the buyers could return. I think we continue to go towards 8000 longer-term, but it’s going to take a lot of work. I like buying dips occasionally and adding as we go a bit higher. It is a market that will be very noisy due to not only the British pound, but also the negotiations between the EU and the UK, as those headlines could move the markets quite drastically. Ultimately, we are in an uptrend and that’s really what matters given enough time.