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ForumTrading Forum with market discussion and live trades: Market DiscussionUK GDP increases | 8232 8260 resi …

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UK GDP increases | 8232 8260 resistance | 8186 8130 support

#1 · 11th July 2024, 9:59 am

Technical analysis for FTSE 100 for 11th July 2024

Well the landscape is all looking quite positive for a bit more upside and we may finally see a test of the 8265 resistance area today that flagged up last week. We have just had GDP data out which shows a slight uptick on the forecasts at 0.4% month on month. That may well help the bulls to pull away once again from the 8200 level, but we have decent support to start with just below at the 8190 area.

The green 30m coral, daily pivot and Hull MA on the 2h are all showing around this area so should we get an initial drop down to here then a bounce would make sense and fit the charts well for a push up towards the 8232 initially where we have R1.

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