{"id":24382,"date":"2023-01-30T10:45:27","date_gmt":"2023-01-30T10:45:27","guid":{"rendered":"https:\/\/fxglobe.wpenginepowered.com\/u-ks-bullish-ftse-takes-a-brief-breather\/"},"modified":"2026-03-18T11:22:28","modified_gmt":"2026-03-18T11:22:28","slug":"uks-bullish-ftse-takes-a-brief-breather","status":"publish","type":"post","link":"https:\/\/www.fxglobe.com\/ms\/uks-bullish-ftse-takes-a-brief-breather\/","title":{"rendered":"Examining the Temporary Pause in the U.K.&#8217;s Bullish FTSE Index"},"content":{"rendered":"\n<p>Good morning Traders!<\/p>\n\n\n\n<p>I\u2019ve been actively monitoring the markets since 2007, and it\u2019s most unusual to see the U.K.\u2019s FTSE index, or Germany\u2019s <a href=\"https:\/\/www.fxglobe.com\/dax-pierced-all-times-highs\/\" data-type=\"post\" data-id=\"27614\">DAX<\/a> index behave as bullishly as they are currently, especially when they historically look to the U.S.\u2019s indices for direction.<\/p>\n\n\n\n<p>This last year has seen the FTSE handle a major market correction distinctly better than the U.S. Normally, this could spell disaster for non-<a href=\"https:\/\/www.fxglobe.com\/on-the-u-s-dollar-as-the-worlds-reserve-currency\/\" data-type=\"post\" data-id=\"24602\">U.S. markets<\/a>, as they take a harder hit, but not this time.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/1.FXG_FM_30Jan2023_UK100_Weekly.png\" alt=\"\" class=\"wp-image-8595\"\/><\/figure>\n\n\n\n<p>Looking at the weekly chart, we can see that the <a href=\"https:\/\/www.reuters.com\/markets\/europe\/london-stocks-fall-open-rate-hike-worries-grip-2023-07-06\/\">FTSE<\/a> has remarkably broken through major resistance levels, and travelled to fresh all-time highs. This feat alone is something to pay attention to.<\/p>\n\n\n\n<p>Often, after a resistance level has been broken, price will return to test that level from above, to see if it can hold as support.<\/p>\n\n\n\n<p>Looking to the second chart here, we can see that price is already considering heading back down to this level.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/2.FXG_FM_30Jan2023_UK100_Weekly.png\" alt=\"\" class=\"wp-image-8600\"\/><\/figure>\n\n\n\n<p>As in both the weekly chart above and the daily chart below, there are key historical levels that are most likely going to be the future support levels where price will turn IF the trend is to continue in the future.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.fxglobe.com\/wp-content\/uploads\/2023\/05\/3.FXG_FM_30Jan2023_UK100_Daily.png\" alt=\"\" class=\"wp-image-8605\"\/><\/figure>\n\n\n\n<p>During this period, the price action seems almost reluctant to head lower, almost as if it\u2019s being forced against its will; There\u2019s a lot of wicks below each candle.<\/p>\n\n\n\n<p>Traders will likely be watching for significantly bullish patterns to form at the two closest levels for signs that support has been found after this retracement and that the market is ready to resume its bullish uptrend.<\/p>\n\n\n\n<p>Happy Trading!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning Traders! I\u2019ve been actively monitoring the markets since 2007, and it\u2019s most unusual to see the U.K.\u2019s FTSE index, or Germany\u2019s DAX index behave as bullishly as they are currently, especially when they historically look to the U.S.\u2019s indices for direction. This last year has seen the FTSE handle a major market correction [&hellip;]<\/p>\n","protected":false},"author":20,"featured_media":17417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"U.K.\u2019s FTSE Takes a Breather | %%sitetitle%%","_seopress_titles_desc":"Discover the recent pause in the bullish momentum of the U.K.'s FTSE index. Explore the factors behind the breather and its implications for traders.","_seopress_robots_index":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[75],"tags":[],"class_list":["post-24382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chon-hang-ngay"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/24382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/comments?post=24382"}],"version-history":[{"count":0,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/posts\/24382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media\/17417"}],"wp:attachment":[{"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/media?parent=24382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/categories?post=24382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fxglobe.com\/ms\/wp-json\/wp\/v2\/tags?post=24382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}