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Technical trade note on the FTSE 100

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Barry Dumas
Technical-Trade-Note

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

FTSE

 

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