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FTSE 100 could move higher
Strength in sterling yesterday meant that the FTSE 100 was unable to join in the general market rally, gaining only 14 points. However, with other markets moving higher London may still join in. The crucial 7130 level, which was resistance back in October and marked the previous all-time high, has now become support, so we would need to see a close below this level to indicate more downward momentum is on its way.
We now look for a daily close above 7200, with 7309 and then 7359 becoming the next levels of resistance. Below 7130, 7061 and then 6945 would be possible areas of support.