Watching both directionsLONG CASE
FTSE has found its footing from the lows of yesterday and has started to build a 30min higher low structure, with the most recent higher low coming very quickly after the recent swing higher. Would need to see a clear break of the 7080 level and a backtest of support with a bullish close before taking a position.
SHORT CASE
Price action has been beat over the past week and the recent budget announcement has done little to quell fears of further inflation. The technical perspective is this resistance line at 7080 which is the only local level we have until ~7200. Would need to see a clear rejection of higher prices followed by a bearish close.