The below is the hourly chart of the UK 100. The index is reacting off of the R1 pivot level. We note that there is a bearish divergence between price and the stochastic (red trendlines). A cross of the green 5-hour EMA below the orange 10-hour EMA will confirm the bearishness and if the EMAs start showing angle and separation it will most likely be a signal that the downwards momentum is increasing. We continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
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