The FTSE 100’s gradual advance from last week’s six-week low at 7,403 has taken it to the 55- and 200-day simple moving averages (SMA) at 7,557 to 7,571 as UK consumer confidence hit a two-year high in January.The moving averages may act as resistance, though, but a rise above 7,571 would target the 8 January low at 7,635.
Potential slips below Wednesday’s 7,539 high may find support between last Friday’s and Tuesday’s highs at 7,523 to 7,527.