The FTSE 100 fell significantly during the course of the day on Monday, testing the 6800 level below, which could be supportive. However, it looks as if
The FTSE 100 fell significantly during the course of the day on Monday, testing the 6800 level below, which could be supportive. However, it looks as if we could go little bit lower before finding any real buying pressure, which is exactly what I expect to happen in this market. I believe that given enough time we should reach towards the 7000 handle, perhaps higher than that as the British pound continues to fall, boosting exports in this particular market. At this point in time, I believe that the 6600 level is essentially the “floor.”
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.
