FTSE100 has is declining for fourth consecutive day on account of strong pound due to Brexit delay hopes.GBP was trading higher against USD and has jumped more than 100 pips yesterday.It has recovered more than 550 pips in past 10 trading session. The index has declined more than 200 points form temporary top 7261 made on Feb 15th 2019. It hits intraday low of 7051 and is trading around 7057.
On the lower side, the index is facing strong support around 7065 (low made on Feb 8th 2019) and any break below will drag the index down till 7000/6982. Any minor weakness below 6932.
The major resistance is around 7122 and any convincing break above targets 7162/7190. The index should break above 7215 (300- day EMA) for further bullishness.
It is good to sell on rallies around 7065-70 with SL around 7125 for the TP of 6935.
