UK 100 (FTSE) continues higher
The UK 100 (FTSE) continued to progress ahead of upcoming GDP data. The bounce to the recent high at 8370 has met stiff selling pressure as previously trapped buyers exited the market with minimal losses. 8320 is the latest support to keep the momentum intact, as a bearish breakout would put at risk the quadruple bottom of 8240. However, if the buy side manages to clear 8400, an extended rally could carry the index to fresh highs.
USDCHF looking for a breakout
The US dollar holds steady as traders brace for the latest NFP numbers. On the chart, the price is holding steady above the recent support at 0.8790. A break below would send the pair into a downward spiral, with 0.8700 as the next bearish target. On the upside, 0.8870 is the nearest resistance, and its breach would expose 0.8950, bringing the greenback close to a bullish continuation at the recent peak.
USOIL probes support
Crude edged lower as prices failed to capitalise on the recent bull run, which led to a touch above 70.00. 68.00 near the base of a breakout rally could offer buyers some respite with the RSI recovering into the neutral area. 68.80 is the first hurdle to lift to ease the bearish pressure. Further up, strong resistance could be expected near 71.50, but only a breach above 70.00 would force sellers out and lead to a sustained rebound.
