Good morning & thanks. Interesting thoughts. As we all know, closing SPs far more important than intraday. So even though this has already gone below 170 & falling, still too early to call it.
But I agree with you & Gold that we’d have few crumbs of comfort if SP was later sold down to below 164 with volume. Though looking at a longer-term BARC chart, we saw slight support at 160 In circa August 2016 just before 2 year timeline of previous linked chart.
Other than brief support at 160+, if that also was broken with volume, then easy to imagine that uncertainties around Brexit have continued as that deadline approaches. Then with sentiment probably turned far more negative, circa 155 or even 150 would seem more likely as the next re-test.
All in all, unless Brexit gets a good deal for the financial sector, hard to be optimistic here for the coming months. A problem further compounded by a distinctly unimpressive CEO & a Chairman whose forte seems to be mostly bluster about turning this dog around by margins that were never remotely attainable. - Regards & GL.