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FTSE 100 continues to consolidate after fall
The FTSE 100 remains in consolidation mode, following Tuesday’s fall through trendline support. The 7711 level is likely to prove pivotal from here, with an hourly close below there providing a bearish signal for further losses.
To the upside, a rally through 7749 would go some way to negating the current weaker outlook. However, with the price having sold off from its previous trend, this current consolidation looks likely to lead to further losses.
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