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FTSE 100 falls back into key support
The FTSE 100 is back at the 7485 support level this morning, as the market broke below the consolidation seen throughout much of the week. The ability to break this level will be key as a bearish signal, with a substantial amount of ground to the downside without notable support.
However, until then we are seeing a bounce, and so it is worthwhile watching to see if the previous support zone around 7516 holds as new resistance. Given this move lower, it makes sense to look for further downside, with a break above 7541 required to negate this view.