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FTSE 100 Forecast December 6, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 6, 2016, 04:59 UTC

The FTSE 100 rallied on Monday, but gave back a bit of its gains once we got close to the 6800 level. A break above there should send this market towards

FTSE 100 daily chart, December 06, 2016

The FTSE 100 rallied on Monday, but gave back a bit of its gains once we got close to the 6800 level. A break above there should send this market towards the 7000 level above, which is resistance as far as I can see. Because of this, I remain bullish but recognize that it is going to be noisy. Ultimately, we are still in a consolidation zone but I feel that the market will continue to show signs of strength over the longer term as the British pound continues to fall over the longer term.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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