Unum Capital: Technical Trade Ideas - FTSE100 and GBPUSD
Dear Trader
This morning the UK's FTSE 100 Index Future and GBP/USD feature among my trade ideas.
FTSE 100 Index Future (Buy/Long)
Over last few weeks the British Pound has rallied on the back of positive developments in the UK around Brexit. We have also seen some positive data being released which include: (1) GDP higher by 0.6% as well as (2) average earnings including bonuses increasing by 2.6%. While this has been positive for the currency, the FTSE has come under pressure as a result of large capitalization multi-nationals being dragged down as earnings and revenue expectations diminish on the back of a stronger Pound.
With the index now looking oversold and finding support on the channel trend line and at the 61.8% Fibonacci level, traders could look to take a buy/long position on a potential rebound.
These are the trade levels:
Buy/Long FTSE100 Future at current levels 7280
Stop-loss: 7235
Take Profit Target: 7400
Dear Trader
This morning the UK's FTSE 100 Index Future and GBP/USD feature among my trade ideas.
FTSE 100 Index Future (Buy/Long)
Over last few weeks the British Pound has rallied on the back of positive developments in the UK around Brexit. We have also seen some positive data being released which include: (1) GDP higher by 0.6% as well as (2) average earnings including bonuses increasing by 2.6%. While this has been positive for the currency, the FTSE has come under pressure as a result of large capitalization multi-nationals being dragged down as earnings and revenue expectations diminish on the back of a stronger Pound.
With the index now looking oversold and finding support on the channel trend line and at the 61.8% Fibonacci level, traders could look to take a buy/long position on a potential rebound.
These are the trade levels:
Buy/Long FTSE100 Future at current levels 7280
Stop-loss: 7235
Take Profit Target: 7400