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FTSE 100 losing last week’s gains
The FTSE has moved swiftly lower this morning, surrendering the gains made over the past week or so. It is too early to suggest that a bigger correction is at hand, since we have major support at 7450 and then 7385 to break.
Having dropped so quickly, a bounce back is possible in the short term, but it will need to hold above the 7500 area to avoid giving the impression that further weakness is on the way.
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