FTSE 100

Key insight

10,602 sits in a tight 10,550–10,650 range; a weekly close above 10,650 opens 10,800, while a break below 10,550 200-day MA risks a fast move to 10,380.

10,602 holds near all-time highs but stalls below 10,650 resistance — flat -0.07% print with DAX -0.3% and CAC -0.1% signals mild European risk-off into week's end.

Main risk

GBP/USD at 1.3500 — sterling headwind

GBP/USD at 1.3500 pressures FTSE's large-cap exporters; a sustained move above 1.36 would drag index earnings expectations lower.