FTSE overbought and struggling at the next target of 7675/80. We are likely to trade sideways to ease these conditions but with no sell signal shorts are too risky. A break higher targets 7696/99. Gains are likely to be limited but above here look for 7720/25. Just be aware that a break higher targets 7770/80.
Minor support at 7645/40 but below here meets a buying opportunity at 7615/10 (if we fall this far, although it is unlikely). Just be aware that further unexpected losses meet the next buying opportunity at 7580/75.