The UK100, which measures the best 100 performing shares from the London Stock Exchange, has surged by 6.02% since May 22. The 50– period simple moving average has pressured the pair higher during this period.
As for the near future, the GBR.IDX/GBP pair will most likely continue to trade bullish. Buyers could aim for the 6400.00 level during the following trading sessions.
However, the monthly R1 and the weekly R2 at 6341.49 could provide resistance for bullish traders within this week's trading sessions.