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FTSE punching higher once more
The FTSE is pushing in towards the 76.4% retracement this morning, with the index continuing its recovery following a drop into the 7356 support level on Monday.
The reaction to the 76.4% is going to be key here, with a confident break through it pointing towards a continued resurgence through 7516. However, given the recent flatlining lows, there is also a potential for a more bearish picture to come into play should that Fibonacci resistance be respected.