fbGB100 Forecast | Improving data bullish for GB100 | IFCM

Technical Analysis GB100 : 2020-09-15

Recommendation for GB 100 Index:

Strong SellSellNeutralBuyStrong Buy

Above 6081.11

Buy Stop

Below 5780.24

Stop Loss

Expert Avatar
Senior Analytical Expert
Articles 1590
RSI Neutral
Donchian Channel Buy
MA(100) Sell
Fractals Neutral
Parabolic SAR Buy

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe the GB100: D1 is testing the 100-day moving average MA(100) which has leveled off. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 6081.11. A level above this can be used as an entry point for placing a pending order to buy. The stop loss can be placed below 5780.24. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (5780.24) without reaching the order (6081.11), we recommend cancelling the order: the market has undergone internal changes which were not taken into account

Fundamental Analysis

UK economic reports were mostly positive recently. Will the GB100 rebound continue?

UK economic data in the last couple of weeks were not as bad as feared on balance. While trade surplus declined a bit more than expected in July, the declines in both industrial and manufacturing production were less than forecast. And the GDP growth was in line with expectations. Thus, the trade surplus declined to £1.1 billion in July from £3.9 when a decline to £1.2 billion was expected. And the industrial and manufacturing productions declined 7.8% and 9.4% over year in July when 8.7% and 10.8% drops where forecast. At the same time the UK economy grew by 6.6% in July 2020, the third consecutive monthly increase. Improving data are bullish for GB100.

Trading signals with a probability of 80% by Autochartist

  • Easy to use
  • Fully automatic
  • Wide range of analytics

The best trading conditions and high-level services for our clients

We are ready to assist you on any issue 24 hours a day.

Note: This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.