FTSE 100 Wave Analysis

The UK 100 index (FTSE 100) has staged an upward reversal from a strong support zone, generating a bullish technical outlook. According to Elliott Wave analysis from FxPro, the index bounced off the critical 10750.00 support level, an area reinforced by the lower daily Bollinger Band and the 38.2% Fibonacci correction of the prior upward impulse originating in July. The 10750.00 mark previously acted as a significant resistance barrier throughout April and July before transitioning into solid support. This technical rebound marks the beginning of an active minor impulse wave iii within an extended intermediate impulse wave (C) that started in late May. With the broader daily uptrend firmly established, technical momentum favors additional upside toward the next major resistance level at 10940.00. This upper target has capped upward advances since February, making it the primary objective for bulls in the near term.