This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
FTSE breaking higher once more
It seems the FTSE weakness could be somewhat short lived, with the index breaking higher once more this morning, thanks to a weaker pound. So far, the price has rallied into the 7310 resistance, and a break above that level would point towards a push through 7323 before long.
As such, the signs are there that we are likely to resume the uptrend. We would need price to break back below 7251 to become less bullish. Until then, buying retracements seems sensible.
.jpg)
