 Hello and welcome to the week ahead video with me David Madden, today's date is Friday the 9th of November 2018 and the time has just gone 11.45 GMT. Now this is the week ahead video so we are looking ahead to the week which begins Monday the 12th of November until Friday the 16th of November and it's very much going to be a sterling British pound focused week. What we've had this week, we've had continued on this certainly around my Brexit so no kind of real news there. The Democratic Union's party, the DUP of Northern Ireland continue to be unhappy with Theresa May. They essentially want a zero difference between Northern Ireland and Great Britain post-Brexit where it kind of seems like Theresa May could potentially look to actually have a border, a trade border down the Irish Sea which of course would not make the DUP very happy. We've had some economic indicators out of the UK this week and they haven't been too great. The services PMI numbers at the beginning of the week fell to a seventh month low and some of the some of the property and house price figures from the UK this week were also very disappointing. So next week the big numbers to watch out for in terms of British economic indicators oh sorry it's also we're pointing out that today we heard from the UK the economy grew by 0.6% in the third quarter in line with the X estimates so at least there was actually some some decent news in there as well. Looking head to next week on Tuesday Wednesday we've got some important economic indicators from the UK. We have inflation and we also have the unemployment and wage numbers. To be perfectly honest unemployment is a multi decade loads, multi decade lows in the UK as any kind of slight change either by 0.1% in our direction it's going to make a whole lot of difference. It's really going to be about the inflation figures and also the wages figures. Recently inflation dipped to 2.4% and the most recent wages figures excluding bonuses show that the earnings actually increased or increasing by 3.1% so the increase in wages is outstripping the cost of living which gives workers a real pay rise. And while that while there continues to be a very sizable difference between earnings and inflation that's going to benefit the British work and British consumer and when British consumer has more money in the pockets the more money they can spend more and that's what I should drive the economy along. Taking a look at what potentially we could see on the back of this any kind of potential moves take a look at pound versus the US dollar. Sterling has been between April and August it's starting to take a fairly decent decline against the US dollar. A stage of recent comeback between mid-August and late September but once again we have seen a fairly sizable sell-off but notice how the lows of November failed to take out the lows of August first of all. And the second one we've got a fairly decent rally here. While we remain north of the 130 mark it's likely we could see further ground being made on the pound versus the US dollar. That being said it's also a bit worrying that the highs of November here haven't taken out the highs of October so this is a series of lower highs which would point to a potentially further losses. Like I said if you manage to hold above the 130 mark you could see further gains being made. And if you do manage to hold above 130 and we can push higher we could be likely heading up towards here the one spot at 3250 region and then if you go beyond that you could be looking up towards this area here the highs of late of September which is just shy of one spot 33 and if you go beyond that you could be looking heading up towards the highs of mid-July which come into play at one spot 3361. If the market does turn over on itself yet again and start to push lower we could be looking heading back down towards the late October lows and if you go south of that we could be looking heading back down towards the August low of one spot 2661. Take a look now at what's going on on euro sterling. So euro sterling has been a fairly decent decline since August hasn't been exactly quite perfect example of higher highs and higher lows we have seen some decent bounce backs but actually this morning we actually went fell to a 7 month low on euro sterling so it's an indication of what we're looking at and if the market is going to turn over trend since August does continue to kind of push on we could be looking heading back down towards heading back down towards this area here in late April at zero spot 8680 and if you go south of that you could be looking heading back down towards the kind of mid-aprilows of zero spot 8620. Any kind of any kind of bounce backs in euro sterling may run into resistance in around the zero spot 88 area. It's quite cool that she acted as both support and resistance not too long ago and then also if you go beyond that we're looking at heading towards the utility moving average this red line here which comes into play at zero spot 8836. Once again notice how she acted as very decent support and resistance not too long ago and if a metric or a level has been important in the past it makes it all the more likely it'll be important in the future. It's only if we actually take out this high here in late October which comes into play in at a zero spot 8939 but 8940 should they actually be kind of could then we start to think that the downward trend since August is actually no longer actually intact. Now if we're going to talk about the British pound we also may as well talk about the FTSE 100 and sometimes there can be an inverse relationship between the two so obviously a strong pound could have the FTSE and a weak pound could actually benefit the FTSE. So the chart I want to look at is a weekly chart on the FTSE 100 and the reason I want to look at that is because I want to look at this red line here the 200 week moving average. It was a very very decent metric and it has acted as very decent support in the past granted we didn't manage to trade below it in mid-October but in late October we closed firmly above it and we've been above it since granted the highs in November haven't yet taken off the highs of October so you know the sentiment is still is reasonably bearish but ultimately while we hold above this level here the red line here at 69 61 it's likely we could see further gains on the FTSE 100 and if you do push up on higher here we could be looking back down towards the early up to September lows within around 70 to 20 70 to 30 this area here. Conversely I'll move back below the 200 week moving average will be quite bearish and if you manage to take out if you manage to take out the March lows which come into play at 68 68 30 39 we could be looking back down towards levels not seen since November 2016 it's nearly two years ago at 66 78. Looking at what else we have next week on Tuesday we have first-time figures in Vodafone on Tuesday Wednesday we have a number of real estate investment trust companies reporting the figures land security first-time numbers British land first-time numbers and workspace first-time numbers. On Wednesday we have economic indicators in China we have retail sales fixed asset investment and industrial production on Wednesday and Friday we have Eurozone GDP and CPI and also on Wednesday and Thursday we have US inflation and US in retail sales. If you have any comments on this video or any of other videos we've made here at CMC markets please feel free please feel free to leave review on google reviews and that's all for me this week thank you very much