FTSE 100 - Still long aiming for all time highs
On our analysis on the 24.07 we indicated that we were long the FTSE100 due to pressure GBP/USD due to the uncertainty surrounding Brexit which would be positive for the FTSE100 as a large proportion of profits for FTSE 100 companies are made in dollars. Since then the FTSE 100 has risen by nearly 3% and with the expected US rate cut on Wednesday we anticipate the index to reach all time highs at around the 7796 Fibonacci level.