The current rise looks like it has the potential to become three waves that might be the start of a rising wedge. C=A in the 7170 area. Of course it can also go straight to the 7280 target, but that looks less likely.
At 7280 FTSE will be at 1.618*W1 which is very likely the target for wave 3. Notice the Wiv low at almost exactly 38.2. The recent action appears to be a three and might be the first part of a rising wedge, or the middle part of a flat. It can also be the 5th wave of course if W4 ended at 'b'.