The FTSE 100 index has broken its upward wedge on a 60 minute time frame. This confirms that the upward trend is losing its steam and the bias could still be to the downside. Moreover, the price is also trading in a downward channel (shown by yellow lines) and there is more pressure to the downside within this channel. The reason for this is reflected by the price by touching the lower line of this channel three times and touching the upper line of this channel only two times.
The volatility for the index remains low as the price is trading within the Bollinger band and close to its 20 day moving average. The RSI is trading in line with the price action which means that the bias could still be to the downside.