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FTSE 100 showing signs of potential short-term weakness
The FTSE 100 has been struggling to break through the 76.4% retracement since initially looking like it was going to break towards the top of the range (7706).
This could still happen, yet with the price slowing in its ascent, there’s also a risk of a bearish move if we see an hourly close below the 7648 mark. A break above 7687 would signal a continuation of this upside, with trendline resistance and the range top up ahead.
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