Thursday, July 26, 2018

FTSE100 - 27 July 2018

  • Stocks
  • FTSE 100
  • UK Inflation

Fundamental Highlights

Stocks in London are set to open higher on Friday as investors await the US second-quarter GDP reading. In early UK corporate news, household goods firm Reckitt Benckiser reported strong revenue growth pushing the FTSE100 slightly higher, but in political news, the European Union's chief Brexit negotiator has blown a hole in Theresa May's plan by rejecting a key element of her proposals for future relations following UK withdrawal.

Technical Analysis

The FTSE100 has been trading in a range for the past 3 weeks, with occasional attempts to break either up or down depending on investor sentiment and fundamental news. The RSI looks bearish and therefore for today, the downside will most likely prevail.

Support: 7625 7575
Resistance: 7705 7777

Chart (H1)