Two trades to watch: EUR/GBP, FTSE
Fiona Cincotta March 18, 2021 7:52 AM
EUR/GBP to break lower post BoE? Can FTSE finally break above 6800/10?

EUR/GBP with BoE in focus
Christine Lagarde is also speak later today.
Can the FTSE finally break 6800/10?
The Fed kept rates unchanged and the dot plot was more dovish than expected with no rate rises expected through the end of 2024.
S&P500 & Dow Jones surged to record high, with the upbeat mood transferring over to Europe.
All eyes to BoE, a stronger Pound could limit FTSE gains
Where next for the FTSE?
The FTSE has been trending higher since later February. It trades above its 50 sma on the 4 hour chart and above its 3 week ascending trendline.
However, the rally is losing momentum and the index has failed on several attempts to break through strong resistance at 6800/10.
A break above this level could see the FTSE aim for 6910 before heading up towards 6960.
On the flip side a break below 6775, a level being tested at the moment could see a decline to 6750 the 50 sma before 6700 round number. A break below here could see the sellers gain momentum.

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
For further details see our full non-independent research disclaimer and quarterly summary.