A weaker GBP, followed by strong oil earnings from BP & Shell is helping bolster FTSE towards the key 8,000 region.

The FTSE100 continues to grind higher towards the key 8,000 region. BP & Shell, along with some smaller oil and gas companies are helping push the FTSE higher, to add to this, the GBP has also weakened and therefore helping with the FTSE100 exporting companies. (weaker pound makes UK products & services cheaper for international business). Looking at the chart, the FTSE has ample support below at 7,800 followed by 7,650. (trendline and Moving average). Unless the FTSE breaks this in the short term, would the bias become more neutral, otherwise, buying on dips seems favourable