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.”
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
