FTSE 100 under heavy pressure
Sterling’s rocket-fuelled rise has put severe pressure on the FTSE 100 index, with the drop from 7450 coming as the US and eurozone indices move higher once more. With the 7300 zone broken, and so far no ability to move back above it, the bears may have their chance.
Some support could be provided at 7260, but otherwise we could be looking at further losses, down to 7185 and then 7090. A reversal back above 7300 is needed to put a positive outlook on things.