FTSE100 continues to trade to lower and lost more than 100 points from yesterday's high 7637. The decline was mainly due to sell-off in global markets on Coronavirus. US markets especially S&P500 lost more than 0.5% from an all-time high in 3037.
GBPUSD rises sharply after upbeat UK Jobs data. It came at 208000 in Nov and the unemployment rate at 3.8%.
Technically, near-term support is around 7551 (23.6% fib) and any indicative break beneath will drag the index down 7500/7470.
The significant resistance is around 7600, any indicative break up targets 7630/7685. Extreme bullish continuation only beyond 7730.
It is good to sell on rallies around 7610-20 with SL around 7685 for the TP of 7470.
