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FTSE resistance holds
Yesterday saw the FTSE selloff once more from the 6455 resistance level that has capped three out of four occasions this October. Crucially, the price has broken back below 6392, which is a worry. The question now is how far this rally can last, given the existence of resistance at 6415. A close above 6415 would bring confidence of further upside, with resistance at 6429 and 6455 the notable levels. However, a move back below 6384 could lead to strong selling, where support levels to watch are at 6376, 6356 and 6344. Be aware of the BoE event this morning for fundamental event risk.