The information on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.
FTSE 100 pushes higher
Despite a sharp drop yesterday afternoon, the index has recovered and is pushing higher once more. Sterling weakness continues to play a part here. The target on the upside would be yesterday’s high around 7134, while a drop to 6950 could find fresh support.
Sustained price action below 6900 would indicate more weakness ahead. Much will depend on what happens with the US dollar this week, as to whether the bullish surge here pushes on into mid-October.