The FTSE 100 turns lower on fears of more rate hikes by the BoE. On the daily chart, the RSI’s overbought condition indicates overextension though there is no confirmation of a fallback yet. A bearish RSI divergence on the hourly chart shows a deceleration. 7930 is the immediate support and its beach may corroborate the observation in these time frames. Then 7870 on the 30-day SMA would be a key level to gauge the strength of follow-up interests. On the upside, a close back above 8030 would resume the uptrend.
