UK100 hurt by a strong Sterling and weak data
28 August

UK100 hurt by a strong Sterling and weak data

London’s FTSE 100 rose as bargain hunters stepped into the market following losses earlier in the week. The blue-chip FTSE 100 was up 0.2% and on course to end the week with modest gains. Glum quarterly earnings reports and weak economic data had pulled the index down about 1.7% in the past three sessions as investors worried about a choppy post-pandemic economic recovery. Bank of England chief Andrew Bailey’s will speak today at the virtual Jackson Hole symposium.


Hurt by a strong Sterling, the British benchmark index has been struggling since Tuesday, with last Friday’s low acting as the new support.


Resistance: R1: 6175.7   R2: 6326      R3: 6514.2

Support       S1: 5947.2   S2: 5850.7



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