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Does the FTSE 100 have a new record above 8k in sight this week?

On February 16 2023 the FTSE 100 reached its highest ever level, at 8,047. The inability to hold gains above 8k has been a characteristic of the price action for over a year, but that noted and important 7,200 support level has remained intact ever since. The shift last week in the outlook for the UK rates, to an increased likelihood of a cut this summer has been the catalyst for the move higher above 7,700 that had preceded that shift. So, on Friday the FTSE 100 came within striking distance of reclaiming that 8k level for the first time in over a year. The FTSE peaked at 7,961 on Friday and later closed 48 points higher on the day, at 7,930. The prospect for the index to reach 8k this week is most  definitely live. However, the FTSE 100 futures are a little lower this morning and are currently pricing the opening at around 7,915 

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