Footsie hesitates as Sterling tests support

Brexit uncertainty is likely to continue for an extended period, with Sterling testing primary support at 1.13 against the Euro. Breach would signal a test of the 2016 low at 1.10.


The FTSE 100 retraced to test support at 7400, with bearish divergence on Twiggs Money Flow indicating medium-term selling pressure. Respect would confirm the target of 7700*. But breach of the rising trendline is as likely, and would warn of a test of primary support at 7100.

FTSE 100

* Target: 7400 + ( 7400 – 7100 ) = 7700

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