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FTSE 100 falters due to sterling strength
A fresh higher high for the FTSE 100 yesterday, even one that didn’t last too long, still confirms that the buyers are in control. Renewed sterling strength on the back of possible Brexit deal news has knocked the price back towards 7400, but so long as 7371 holds, then the bullish short-term picture is intact.
A short-term rising trend from the 20 November low at 7350 is one to watch, and may suggest that support could materialise around 7390. A rally needs to clear 7473 in order to to create a new higher high.