FTSE 100

Key insight

10,674 is no-man's land: 10,600 50-day MA below, 10,750 August swing high above. GBP/USD -0.7% to 1.3382 boosts FTSE's export earnings tailwind, but Oil at $98 lifts energy costs — net effect is sideways drift until a macro catalyst forces the break.

10,674 holds above 10,600 50-day MA but stalls below 10,750 swing resistance — flat -0.17% print mirrors DAX/CAC, signalling Europe-wide consolidation, not FTSE-specific weakness.

Main risk

GBP/USD sharp -0.7% daily drop

Sterling at 1.3382 (-0.7% intraday) mechanically lifts FTSE multinationals' GBP earnings — sustained drop extends this tailwind toward 10,800.