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FTSE 100 breaks higher from key support zone
The FTSE 100 is breaking higher after consolidating above a crucial support zone between 7435 and 7461. The index has clearly moved out of the downtrend of recent months, with the move above that zone of previous highs providing a bullish breakout. The subsequent retracement proved short-lived.
Given the respect of that zone once more, it looks like we are set for another period of upside, where a bullish outlook is back in play unless we see a move back below yesterday’s low of 7454.