- Markets mixed amid return to Brexit limbo and patchy US earnings data
- Sterling falls below $1.29 after MPs reject Brexit bill timetable, but is still near five-month high
FTSE: The bulls have built on the rise above 7200 and we are now testing the daily resistance area around 7260, however, the bears didn't really appear here last night so I am thinking that we may well see a rise towards the cluster of resistance at the 7292 to 7300 area. Just below this though we also have the top of the 10 day Raff channel and the daily 200ema at 7280, so it will be worth keeping an eye on this whole area this morning to look for a reaction.
Should the bulls break above 7300 today then we may well see a rise towards the daily resistance at the 7350 level. I feel that cable will need to get more bearish though to start thinking about getting that high, but with all the Brexit wrangling you never know at the moment.
Initial support is at the daily pivot at 7240 this morning. If the bears were to break below this then 7210 to 7195 is the next level of note where we have the fib, S1 and 30min 200ema. Slightly below we also have the 2 hour coral at 7188.
So fairly simple plan for today, looking for a rise towards that 7300 area initially.