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FTSE 100 breaks below trendline support
The FTSE 100 has been trading largely sideways, following on from a surge higher on Tuesday.
This points towards a potential move into the 76.4% resistance before long (7545). The uptrend in place over the past fortnight remains in play unless we see a break below the 7445 level. The wider bearish picture remains relevant, raising the possibility of a potential reversal lower before long. However, a break below 7445 would reverse that short-term trend.