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 100 knocked by pound sterling strength
Strength in sterling knocked the index to its lowest level in over a week, falling below the 7300 level and potentially bringing the great run of the past month to an end.
So far this morning the index is finding resistance around 7260, the daily pivot level, with further potential resistance at 7272, the 200-hour simple moving average (SMA) and then 7299. Possible support lies around 7215, the lows of yesterday’s session, and then down to 7186 and 7145.