FTSE 100: A no-deal could push the UK into recession in 2020

OECD cut global growth forecast to 2.9% from 3.2%, the weakest annual growth rates since the financial crisis, with downside risks continuing to mount

Substantial uncertainty persists about the timing and nature of the withdrawal of the United Kingdom from the European Union,

particularly as concerns a possible no-deal exit which could push the UK into recession in 2020

The FTSE 100 future is bouncing in pre-US trading

Let’s have a look at the technical picture

The index bounced from a bearish channel support and broke above the resistance

The 20 and 50-period moving averages crossed upward

while the RSI is bullish but overbought

Above 7330, a continuation of the rebound toward 7385 and 7428 is expected.

recession