Price has rejected from the upper boundary of the 4H range/resistance zone.
The rejection also coincides with a potential rising wedge / Head & Shoulders breaking to the downside.
Stochastic has a bearish cross following the rejection, suggesting momentum may be shifting lower.
OBV is also beginning to break lower, indicating weakening buying pressure and supporting the bearish move.
Broader geopolitical uncertainty and risk-off sentiment could provide additional downside pressure for UK equities.
Initial downside target sits around the lower 4H support zone near 10,180–10,200.
Invalidation would come from a strong move back above the recent highs / upper resistance zone around 10,700–10,735.
UK inflation data is due this week, which could create volatility across the FTSE and GBP. It may be worth waiting for the data release before entering, or for clearer post-data confirmation of the bearish move.
