FTSE 100 Seeks Support

The FTSE 100 struggles as UK consumer confidence wanes amid geopolitical uncertainty. The index has met stiff selling pressure near the recent peak (7690).

A combination of profit-taking and fresh selling weighs on price action. Nonetheless, sentiment remains upbeat. And a bullish MA cross on the daily chart suggests strong impetus in the latest recovery.

7530 is fresh support and 7450 is the second line of defense in case of a deeper retreat. The bulls need to clear 7650 before they could regain the upper hand in the short term.

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