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FTSE 100 rebounds from key support level
The FTSE 100 is regaining ground, following a rebound from the key 7511 support level. That level represents the peak from last week, with a break back below crucial to highlighting that further downside is on the cards.
An hourly close below 7511 would point towards a wider retracement, with the 61.8% (7482) and 76.4% (7463) in view. Alternately, an hourly close above 7535 would signal a more bullish picture.