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FTSE 100 takes a breather
Having cleared the 7340 highs, the FTSE 100 continues to move higher, but is encountering some resistance around 7390 and the 200-day simple moving average (SMA).
A daily close above here would open the way to 7800. A look at the four-hour chart suggests we could see some near-term weakness, given how momentum has begun to falter. However, the price would need to drop back below 7150 to really suggest that the bounce has run its course.
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