UK100 pulled back from1-week high reached on Wednesday ahead of the Bank of England’s interest rate decision. The UK central bank is expected to raise its key rate by 25bps after yesterday's hotter-than-expected British inflation data for February. Banking sector is taking the biggest 1.0% hit, snapping two consecutive sessions of gains.
From technical point of view, UK100 returned below major support at 7520 pts, which is marked with previous price reactions and 38.2% Fibonacci retracement of the last upward wave. If current sentiment prevails, downward move may deepen towards next support at 7360 pts, which coincides with 50.0% retracement and 200 SMA (red line) or even recent lows at 7200 pts where lower limit of the 1:1 structure is located.
UK100. D1 interval. Source: xStation5
3 markets to watch next week: US100, GOLD, EURUSD (05.06.2026)
Daily summary: Nasdaq 100 drops 3%, precious metals and Bitcoin are falling amid US dollar strength
Silver slumps 7% 📉 Precious metals under selling pressure
NFP: A turning point for the dollar and the start of a stock market correction?