It's all going to get lively at 12pm as the BoE announce the rate decision. We also have Trump confirming the Fed chair at 7pm. After the rate news from he BoE we have the inflation report and we may well get a clue as to whether Carney is feeling more hawkish or dovish and therefore that may well set the tone for the rest of the UK session. Either way the rate news will affect cable and a spike up on that will see a bit of FTSE 100 weakness, while a drop in cable will see the FTSE rise.
Overnight we have been quite weak, with the FTSE 100 futures dropping to the 7450 support level mentioned yesterday. The bulls will be keen to defend this level as a break of 7450 leads to 7400. They weren't particularly strong yesterday to hold that brief move above 7520, dropping back from 7530.
Resistance wise there is 7490 initially today where we have the daily pivot and also 2 hour resistance. However, as we are likely to be quite news driven today it might well spike through support/resistance levels so be cautious with your trading today. We also have NFP news tomorrow to bear in mind.
I am thinking that the bulls are going to be able to defend the 7450 level and we get the rise towards the 7560 resistance area over the next few sessions. Possibly 7600 depending on Fed, NFP and BoE.