The FTSE continues to look under pressure. It’s been heavy throughout February, with Stochastic divergence signalling underlying weakness. Yesterday’s price action delivered a last‑gasp push to new all‑time highs, only to close at the lows — a classic sign of fading momentum. It also happened on Reversal Thursday, which adds weight to the shift in tone.
A break below 10,380 would keep the downside pressure intact, opening the path toward 10,303/10,290.
On the topside, the market looks capped around 10,492, which encompasses the 4th February high and aligns with today’s R1 from Pivot Point analysis.
Today’s Pivot Point sits at 10,442, and should act as the swing level. Opening and holding below here keeps the market depressed. I still believe sellers will attempt to push toward 10,290 → 10,225.
Today’s pivot levels:
- PP: 10,442.
- R1: 10,492.
- R2: 10,494.
- R3: 10,730.
- S1: 10,350.
- S2: 10,298.
- S3: 10,154.
This is not to be construed as investment advice.
My Money, My Risk.
Source: https://www.fxstreet.com/news/ftse-signs-of-exhaustion-after-february-weakness-video-202602130728
