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FTSE could have further downside to come
The FTSE is seeing weakness once more this morning, coming off the back of a rally into the crucial 7381 resistance level. Given the break below that level last week, we are likely to sell off into a deeper retracement of the rally from 7088, with the 61.8% (7284) and 76.4% (7209) levels of particular interest.
As such, further downside from here looks likely from here, with a break through 7450 required to negate the recent downtrend.
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