Investors are also bracing for another busy week with speeches from ECB and Fed officials alongside a batch of significant macro news such as Chinese PMI, US GDP and EU CPI.
The GBP continues to crash alongside the main FTSE-100 UK index which highlights the lack of confidence investors have in the Government’s plans while assessing the prospect of tighter monetary conditions from the BoE.
The index now trades slightly above a 3-month low with no sign of any bullish rebound in sight.
Prices may quickly get back to their annual market bottom at 6,775pts if the 6,960pts/7,010pts zone gets broken.
Pierre Veyret– Technical analyst, ActivTrades
Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.
