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FTSE 100 Price Forecast August 23, 2017, Technical Analysis
Updated: Aug 23, 2017, 04:35 GMT+00:00
The FTSE 100 gapped higher at the open on Tuesday, reaching towards the 7375 level during American trading. I believe that the market will target the 7400
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The FTSE 100 gapped higher at the open on Tuesday, reaching towards the 7375 level during American trading. I believe that the market will target the 7400 level, but a pullback to fill the gap might be possible. Part of this may be due to the selloff in the British pound during the day, as it makes exports out of the United Kingdom very cheap. Because of this, I believe that buying the dips should continue to work, and that the 7300 level should offer a bit of a floor. Currently, I think the 7425 level will be targeted over the next several sessions.
FTSE 100 Video 23.8.17
About the Author
Christopher LewisSenior Analyst
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.
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