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7550 to be defended for a rise to 7625+ | Santa Rally season | 7661 above

#1 · 18th December 2023, 10:08 am

Technical analysis for FTSE 100 for 15th December 2023

The FTSE 100 gave up some gains on Thursday after the Bank of England (BoE) indicated that interest rates would remain high for an extended period, a day after the U.S. Federal Reserve hinted that it could pivot to cutting rates next year.

The pound jumped 1.2% as the central bank stuck to its guns, largely shrugging off data showing a slowdown in wage growth and a 0.3% fall in gross domestic product in October. The Monetary Policy Committee voted 6-3 to keep rates at a 15-year high of 5.25%, in line with economists' expectations in a Reuters poll last week.