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FTSE 100 rallies sharply after drop into key support
The FTSE 100 sold off sharply at the start of the day, with the price falling into the 7446 support level.
Given the wider downtrend and recent rally into the 76.4% retracement for the index, a break below 7446 would point towards a potential bearish breakdown coming into play. However, for now we need to see either a break above 7558 or below 7446 to provide direction.