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FTSE 100 continues to consolidate
The FTSE has seen a relatively choppy few days, with price failing to break significantly higher or lower. To the upside, we have a clear resistance zone around the 7010 mark, while downside support appears to be found around the 6920 region.
As such, the most recent price action gives us little clues as to where the break will come. That being said, we have seen price break lower from a similar period of consolidation and as such, the medium-term conveys a bit more of a bearish slant to proceedings. In any case, it makes sense to continue looking for price to respect this range until we see a breakout above or below the upper or lower thresholds.