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FTSE looks to break higher once more
The FTSE 100 is moving higher once more this morning, following a pullback to the 50-period simple moving average (four-hour) and the 6624 level (July 4 resistance level and 38.2% pullback). The key here is whether we see an hourly close above 6744 to spark another leg higher.
As such, a bullish view remains in play, with a new bullish signal coming with an hourly close above 6744. We would need to see an hourly close below 6430 to negate this view.