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FTSE 100 facing losses
The bounce on the FTSE has been firmly knocked back, with the price slipping below the 7492 level, identified yesterday as a crucial determinant. Some support is provided at 7448, which held back further falls overnight, but a loss of this level would suggest a drop back to 7385, where the index bounced twice in June.
Three attempts over the past two weeks to break the area around 7550 have been defeated, so this is the zone that bulls need to break to reverse the bearish outlook.