FTSE 100 Index Price Forecast August 24, 2017, Technical Analysis

The FTSE 100 had a choppy session on Wednesday, as we gapped lower at the open, but then turned around to fill that gap and then break above it. I think that the market is still going to try to reach towards the 7400 level, driven partly by the GBP/USD pair breaking down. This makes British exports cheaper, and the FTSE 100 has several exporting companies. I think if we can break above the 7400 level, the market should then go towards the 7450 level. Pullbacks of this point could happen, but I like the massive gap below to offer massive support as well. I think that the 7300 level should be the temporary floor in the market.

FTSE 100 Video 24.8.17