FTSE 100: UK EQUITIES HOLD DESPITE BRITISH POUND PULL-BACK

The FTSE 100 follows European stocks in a positive European trading session, posting gains of approximately 70 points. 

With little on the calendar this morning, yesterday’s unemployment numbers coupled with Boris Johnson’s attempt at overriding...

the Northern Ireland protocol remain the biggest challenges heading into the Bank of England (BOE) rate decision tomorrow.  

Attention now turns to the Federal Reserve meeting tonight as the markets brace for the largest rate hikes by the FED since 1994. 

Among the notable movers of the FTSE this morning we have Whitbread PLC and London Stock Exchange Group that posted gains of 5.6% and 4.8% respectively. 

Price Action on the FTSE has seen a bounce as it tapped into our support area of 7120. 

A dip back below the 7120 area could open-up the possibility of a retest of the psychological level of 7000. 

Selling pressure remains high as the Bank of England (BOE) meeting approaches. 

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