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FTSE 100 Rises on GBP/USD, GBP/EUR Correction: Crucial Resistance Ahead 2021-04-08 12:10:00 Justin McQueen, Analyst FTSE 100 a Key Beneficiary from GBP Selling Key Resistance Ahead at Psychological 7000 Level FTSE 100 Stocks Above 200DMA at Historical High The FTSE 100 has hit a fresh post-pandemic high having taken out the January peak. While improving economic data has underpinned the global equities, notable strength in the FTSE 100 has been in part due to the corrective move lower in the Pound. Keep in mind, that the index is largely compiled of multinational corporates where2/3 of the revenue generated among FTSE 100 companies are from overseas, thus the value of repatriated profits are higher as the Pound falls. Therefore, should GBP begin to stabilise and recoup its recent losses in a sharp manner, this could prompt the index to lag its counterparts.

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