Comment 

Uptrend unbroken

Dominic Picarda

I was caught out by yesterday’s weakness in the FTSE and EURGBP. No matter, though, as the downside was hardly significant in the scheme of things. A poor GDP figure from Germany was the main cause of the negative tone. It came as a stark reminder that the Eurozone remains in poor shape, even in its economic fatherland. The recent strength of the Euro will be doing little to alleviate the bloc’s difficulties, either.

For my part, I still fancy the FTSE to make further upwards progress in the very near term. The UK index is definitely to be preferred over Germany’s DAX right now. Meanwhile, I would be looking to short the end of any intraday rallies in GBPUSD, as I think worse is in store for sterling.

Click here for PDF version.

To continue reading, register today

to enjoy limited access to the following:

  • Daily trading news
  • Funds coverage
  • Features on big investment themes
  • Comprehensive companies coverage
  • Economic analysis
Register
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now