Major resistance - 7261
FTSE100 is consolidating after forming a top around 7258 levels. The index is struggling to show a major movement as markets eye Brexit deal for further direction. GBP was one of the best performers in the past 1-week hopes of Brexit deal this week. It has jumped more than 150 pips from yesterday's low of 1.25158.
Short term trend is slightly weak as long as resistance 7261 (21-day MA) holds and any violation above will take the index till 7300/7340. Any minor bullish continuation only above 7465.
On the flip side, near term support is around 7170 and any break below targets 7140/7100. Any major bearishness only below 7000.
It is good to sell on rallies around 7170-75 with SL around 7137 for the TP of 7300.
