FTSE breaking through crucial support level
The FTSE is moving sharply lower this morning, with the price currently breaching the 7253 mark. That level has underpinned the price action for over a month, and should we see a convincing break below that level, it would be a particularly bearish signal.
Given the trendline break back in mid-March, a drop below 7253 would likely pave the way for a period of significant weakness. As such, this level will dictate the state of play for not only the day but the entire week.