[Video] FTSE off highs but bullish trend intact – for now
Fawad Razaqzada July 30, 2019 11:54 AM
The index broke to a new 2019 high on Monday on the back of fresh falls for the pound amid growing concerns over a no-deal Brexit and expectations for more central bank stimulus ahead of the Fed and Bank of England meetings. Today, though, it has eased back a little along with the wider global markets. From a purely technical point of view, the path of least resistance is to the upside given the higher highs and higher lows.
The index broke to a new 2019 high on Monday on the back of fresh falls for the pound amid growing concerns over a no-deal Brexit and expectations for more central bank stimulus ahead of the Fed and Bank of England meetings. Today, though, it has eased back a little along with the wider global markets. From a purely technical point of view, the path of least resistance still remains to the upside given the higher highs and higher lows, but we are prepared for a reversal if certain conditions are met...
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