FTSE 100 holds 7500
The breakout after the Bank of England (BoE) announcement last week has been followed by a dramatic pullback for the FTSE 100. However, buyers have come in to defend the 7500 area, with further gains coming in at the open.
As long as the index remains stuck below 7550, there is the possibility of further consolidation. A close above 7560 would mean that a run to the all-time high is back on. It seems prudent to remain bullish unless the index drops back below 7450.