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The FTSE 100 continues to consolidate at key support
The FTSE 100 remains above the 7516 support level this morning, continuing the consolidation seen so far this week. An hourly close below 7516 would point towards a retracement, with the 61.8% (7488) of particular note given the confluence with previous resistance.
In either case, an hourly close below 7457 would be required to negate the bullish outlook that comes following the rally through 7487 and 7516.