Growing confidence in the British service sector at highest point in 14 years, companies and professional services reported that levels of business volumes and values were significantly above normal with a survey printing a record high, reflecting the strongest growth in business volumes since 2001. Exports and business investment helped the UK economy expand in the second quarter, according to official figures that confirmed a pick-up in growth after a sluggish start to the year. The Office for National Statistics (ONS) said Gross Domestic Product (GDP) rose 0.7% in the three months to the end of June, unchanged from an estimate made a month ago but an obvious acceleration on 0.4% in the first quarter. Further details from the ONS last week showed that net trade made its biggest contribution to growth for 4 years. Since the beginning of the year the FTSE 100 fell more than 4.0% and is in a bearish phase since late July. Last week the Index initially plunged making a new low for the year at 5,760 but found enough buying pressure to turn around and closed in the green, near the high of the week, just below the 200-week moving average. Stochastic is showing a bearish momentum and is below the 50 mid line. Expecting an upward move to a key level at 6,441 on a break above the weekly resistance at 6,277.5 (scenario 1) or a break below the weekly resistance at 6,042 could throw the Index downward to year low at 5,760 (scenario 2). UK100 is a CFD written over FTSE 100 futures.