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ForumTrading Forum with market discussion and live trades: Market DiscussionBoE interest rate 5.25% | 8350 83 …

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BoE interest rate 5.25% | 8350 8331 support | 8388 8405 resistance

#1 · 9th May 2024, 9:10 am

Technical analysis for FTSE 100 for 9th May 2024

A fairly tight range again yesterday ahead of the BoE interest rate decision today with rates expected to remain unchanged. Initially today we have support at the daily pivot at 8348 and if this holds the first test we may well see a rise towards the resistance level at 8388. Buy the rumour sell the news ahead of the BoE would make sense today and the bulls continue to be keen to push for new highs as the FTSE100 continues to play catch up with the rest of the world. One benefit of not having any tech companies in the index!

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