FTSE 100 retraces into 76.4% Fibonacci support
The FTSE 100 broke lower overnight following a wider (daily timeframe) pullback into the 61.8%. There is a good chance that we have seen an end of that wider sell-off, and we will need to remain above 7349 to remain on track to recover from here.
With the price pulling back to the 76.4% retracement, there is a good chance we could start to see the FTSE 100 turn higher from here. Conversely, a break back below 7349 would point towards a possible move into the wider 76.4% Fibonacci, at 7288.