The FTSE 100 recovers as lackluster GDP growth may keep the BOE off the hawkish path.
The index is in consolidation between the daily support at 6940 and 7200. As long as the bulls bid up the price above the support, the medium-term rally is still intact.
The current volatility is a sign of short-term turnover. After the RSI rose back from an oversold situation, price action found support at the psychological level of 7000.
7150 is the resistance ahead, a breakout could challenge the peak at 7200.
