Today the focus will be on the latest inflation data from the UK. A rebound is expected for FTSE100 after yesterday's drop following a weaker than expected wage data that showed a slowing of growth in average earnings. Inflation is forecast to rise slightly to 2.5% in July from 2.4% in June. Consumer and producer prices data from the UK are due today. Output prices are forecast to climb 3.1% annually and input prices to jump 10.4%.
Technically, the UK index is still trading inside a narrow range between 7615 and 7672. The RSI looks bearish suggesting a slight drop back to retest the 7615 support.
Support: 7615 7555
Resistance: 7672 7770