The FTSE 100 gapped higher at the open on Monday, but found enough resistance near the 7430 level to turn around and fall towards the 7400 level.
The FTSE 100 gapped higher at the open on Monday, but found enough resistance near the 7430 level to turn around and fall towards the 7400 level. Ultimately, I believe that the market will find buyers in this general vicinity, but the market should continue to be volatile to say the least. The British pound had been very strong during the day, and that is working against the idea of British exporters. Ultimately, I believe that the market should go looking towards the 7500 level above. However, if we break down below the 7375 handle, we could go looking to fill the gap from several sessions ago far below.
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.
