Signal_Centre

FTSE has broken out of a channel - Looking to sell a re-test.

Short
FOREXCOM:UKXGBP   UK 100 CFD
UK100 is Bearish - We look to Sell at 5867

▪️ Broken out of the channel formation to the downside.
▪️ We have a 38.2% Fibonacci pullback level of 5872 from 6209 to 5664.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5867, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 5917
Target1: 5637
Target2: 5530