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FTSE turning lower from Fibonacci resistance
The FTSE is turning lower this morning, following a continued respect of the 76.4% Fibonacci retracement. The wider view shows a continued downtrend despite the fact that we saw such impressive gains earlier in the week.
With that in mind, there is reason to believe we could see further downside come into play, where a break through 7346 would be required to negate that wider downtrend. A break below 7255 would be required to signal that we are likely to see further downside.