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FTSE higher on the US-China phase 1 trade deal optimism – FTSE 100 Market Outlook – 25/08/2020

SquaredFinancial

The FTSE 100 hit our long entry resistance target at 6100 tracking U.S. indices higher on the back of upbeat market sentiment following reports of progress on the U.S-Sino phase 1 trade deal and optimism surrounding a Coronavirus vaccine. Further upside is favorable as long as we print above the 200 period SMA providing the closest support level.

Support: 6100 / 6050
Resistance: 6160 / 6220

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/ftse-higher-on-the-us-china-phase-1-trade-deal-optimism-ftse-100-market-outlook-25-08-2020
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