FTSE attempting to break key resistance
The FTSE climbed back towards the 7300 mark overnight, with the index needing to break through that major near-term resistance for another leg higher to come into play. This current hour has seen price selling off sharply, only to regain some of that ground.
Ultimately, an hourly close above 7300 would provide a bullish breakout signal. Until that happens, there is a chance we could continue to range, as highlighted by the wedge breakdown, in momentum (stochastic).