FTSE 100

Key insight

10,750 round-number resistance capping the index; a daily close above 10,800 is needed to confirm breakout, while a slip below the 50-day MA ~10,580 would flip near-term bias bearish.

10,748 holds near multi-year highs but flat 24h print signals exhaustion; DAX and CAC both off 0.2% while FTSE flatlines, suggesting leadership fading at current levels.

Main risk

GBP/USD strength at 1.3609

Sterling at 1.3609 compresses FTSE exporters' earnings — each 1% GBP rise cuts FTSE 100 EPS ~0.5% via FX translation.