• Contact Us
  • Homepages
Most Forex
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
Most Forex
No Result
View All Result
Home Forex News

FTSE 100 Heading Higher, GBP/USD Flat

Forex Tips by Forex Tips
August 5, 2020
in Forex News
0
FTSE 100 Heading Higher, GBP/USD Flat
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


GBP, FTSE prices, news and analysis:

  • The FTSE 100 index of the leading London-listed stocks looks to be gaining upward momentum and is well placed to challenge last month’s highs.
  • By contrast, GBP/USD is continuing to consolidate its recent gains as the pair remains technically overbought.

FTSE 100 well placed for further gains

The FTSE 100 index of the major London-listed stocks continues to head higher even as concerns rise about the cost of the economic stimulus programs designed to counter the impact of the coronavirus pandemic. After widespread falls in Asia Wednesday, stocks in several major European markets are firmer in early trade and for the FTSE in particular a return to the July highs now seems possible.

FTSE 100 Price Chart, Daily Timeframe (April 28 – August 5, 2020)

Latest FTSE 100 price chart.

Chart by Investing.com (You can click on it for a larger image)

The highest level reached last month was 6,323.55 touched on July 15 and that now seems a likely target for FTSE bulls. Note too that despite the recent gains by the index, the 14-day relative strength index (RSI) is still nowhere near the 70 level suggesting an overbought market, currently sitting at 48.5.



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily -5% 9% -1%
Weekly 1% -1% 0%

As for GBP/USD, that continues to trade sideways around the 1.31 level but the pair does still look overbought, with the RSI at 79.9. That implies that any extension of the advance that began at the end of June may have to wait until the current consolidation period is over.



of clients are net long.



of clients are net short.

Change in Longs Shorts OI
Daily -1% -2% -2%
Weekly -14% 15% 4%

We look at stocks and currencies regularly in the DailyFX Trading Global Markets Decoded podcasts that you can find here on Apple or wherever you go for your podcasts

Like to read about the role sentiment plays in FX trading? You can find out here

— Written by Martin Essex, Analyst and Editor

Feel free to contact me via Twitter @MartinSEssex





Source link

Share76Tweet47

Related Posts

AUD/USD May Rise if Australian Inflation Data Impresses, FOMC in Focus

by Forex Tips
January 27, 2021
0

Wall Street, AUD/USD, AU Inflation, FOMC – Talking PointsWall Street trading moves lower as investors weigh stimulus oddsAPAC equity...

Bitcoin (BTC), Litecoin (LTC), Ripple (XRP) Outlook: Will Momentum Hold?

ETH Poised to Outperform BTC in Near Term

by Forex Tips
January 26, 2021
0

Bitcoin, Ethereum, Cryptocurrencies, BTC/ETH Ratio, Technical Analysis – Talking Points:Ratio analysis suggests that Ethereum will continue to outperform Bitcoin...

Nasdaq 100, US Dollar, Crude Oil, Fed, IMF, Tech Earnings

by Forex Tips
January 25, 2021
0

Recommended by Daniel Dubrovsky Get Your Free Equities Forecast Market sentiment ended on an upbeat this past week, but...

Gold Breakout Rejected – XAU/USD Bulls Beware

Gold Price Tracks Weakness in US Treasury Yields Ahead of Fed Meeting

by Forex Tips
January 24, 2021
0

Gold Talking PointsThe price of gold pulls back from the weekly high ($1875) to largely track the recent weakness...

December RBA Meeting & AUD/USD Rate Forecast

Australian Dollar Capped by Falling Iron Ore Demand Ahead of Inflation Data

by Forex Tips
January 23, 2021
0

Australian Dollar Fundamental Forecast: MixedThe notable drop-off in Chinese iron ore demand may be behind AUD’s recent slide lower...

Load More

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos
Forex Pulse Detector

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.