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FTSE 100 breaks key support following wedge
Following a move lower from the rising wedge in play throughout February, the FTSE 100 has managed to break below the key 7187 level.
While that break below 7187 points towards downside for the pair, the respect of the 50% retracement raises the chances that we will move higher from here. A break above 7293 would be required to negate the possibility of another leg lower, and until then there is a good chance that a short-term bounce would be greeted by another leg lower.