In conjunction with our GBP/USD currency pair trade from earlier today I will be looking to buy the FTSE 100 if we see a daily close above 7737.
GBP/USD trade note: https://blog.gt247.com/technical-trade-note-on-gbp/usd
Technical outlook: the price action has finally broken through the 7706 resistance area and looks set to move higher. The price is also trading above the 50-day simple moving average (SMA) which supports the move higher.
Trade: FTSE 100
- Entry: (Buy): 7737
- Stop loss: 7632
- Target price 1: 7803
- Target price 2: 7887
Disclaimer: Any opinions, news, research, analyses, prices, or other information contained within this research is provided as general market commentary, and does not constitute investment advice. GT247.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The content contained within is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.