The FTSE 100 has reached a two-month high at 7,583 on Friday, close to its 200-day simple moving average (SMA) at 7,565 which acts as resistance with the previous resistance area, now a supportzone, at 7,543 to 7,535 being revisited. Further down lies the 7,500 mark.
A rise above 7,583 ahead of Thursday’s Bank of England (BoE) meeting would eye the September-to-December downtrend line at 7,606.
