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UK100 CFD

Broke below a trading channel - 1.26 next? The UK elections are coming and GBPUSD is starting to feel the pressure. GBPUSD broke below a daily channel and closed below the Fast daily MA line last week. As long as GBPUSD stays below 1.3 the direction is down (in my opinion). The next Major Buy Zone for GBPUSD is 1.26 and that can be the level in which GBPUSD will turn back higher and climb towards the completion of a bearish harmonic pattern - 1.33. If GBPUSD will climb and close above 1.3, the chances that it'll reach 1.33 before the next bearish wave will increase dramatically. It all comes down to the Elections results. It is going to be choppy this week so be careful. Read more about GBPUSD and the UK elections in my newsletter. Visit the website and check out the Weekly Markets Analysis Or look for #WeeklyMarketsAnalysis on Twitter
by themarketzone
UK FTSE remains heavy at current levelsThe UK FTSE100 Index is finding difficulty maintaining higher levels as negative divergence unfolds on weakening momentum studies. The Tension Indicator (not shown) is also showing signs of negative divergence as it, too, turns down. Investors are expected to continue reducing positions. A break below the 7255.78 low of 27 March is highlighted, with the 7192.94 low of 24 February to then attract. Further slippage will open up critical support at the 7093.57 low of February. A break beneath here would turn investor sentiment outright bearish, and confirm a more significant bear trend as the fall from the 7447 high of March gains traction. An unexpected break above 7447 would delay lower levels, but should find difficulty clearing the 7500/11 barrier.
TVC:UKX
by Michael_Macdonald-XATSUK
Two bearish scenarios for the FTSEUK100 (FTSE) has climbed above it weekly trading channel again this week. The losses that we saw about a month ago almost erased completely. As I see it, there are two bearish scenarios that I find interesting in UK100: 1) False Break scenario - Will be triggered if UK100 will decline and close below 7200. Currently we see a daily double top pattern near 7300, but as long as the price is above the channel's top the False Break scenario isn't in play 2) If UK100 will advance about 4-5% higher, it will complete a bearish Butterfly pattern. That will be between 7600-7700. With the bullish sentiment that we currently see in the markets no one will be amazed to see UK100 rallying 4-5% .... despite the amazing run it had already. BTW we have a similar situation in GER30 near 12,000. If you are looking for bearish opportunities - I just provided 2 for you. *Make sure you do your own analysis before making any trading decision
FX:UK100Short
by themarketzone