FTSE 100

Key insight

10,722 trapped between 200-day MA support at 10,650 and the 10,800 range cap. Break either way resolves the three-week consolidation; oil at $98.3 keeps energy heavyweights bid, limiting downside.

10,722 holds above 200-day MA near 10,650 but stalls below 10,800 range resistance — DAX and CAC also red, signalling broad European profit-taking with no fresh catalyst.

Main risk

BoE rate path uncertainty

Sticky UK services inflation forces BoE to hold rates higher for longer, compressing FTSE valuations and pressuring rate-sensitive sectors.