Signal_Centre

FTSE - Selling a re-test of the broken channel

Short
FOREXCOM:UKXGBP   UK 100 CFD
UK100 is Bearish - We look to Sell at 5933

▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 5983
Target1: 5665
Target2: 5627

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