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FTSE 100 continues on a high note
So far there is no sign that the FTSE is particularly worried about the developments in Washington, with an overnight retracement towards the 50-hour simple moving average (SMA) at 7481, resulting in the same outcome as all previous instances since 8 May.
Dip buyers have entered, pushing the price back towards yesterday’s all-time high at 7534. The progression of higher highs and higher lows continues, and it would be unwise to get too bearish until the price drops back below 7450.