The FTSE 100 falters as traders ponder the Fed’s potential stance next week. The bulls are testing the major supply zone from this year’s highs around 7630 where strong downward pressure could be expected. As the daily RSI shot into the overbought area, a combination of profit-taking and fresh selling could weigh on the short-term price action. 7510 is the first support then 7440 next to the moving averages is an important area of confluence. A rally above the psychological level of 7600 could extend gains above 7700.
