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FTSE 100 will likely see support at 6,700 says Zak Mir

Friday, November 4, 2016 3:17
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Technical analyst sees “likely support” at the current 6,700 level for the FTSE 100 following the losses for the London benchmark, as a result of a rallying pound.

“Dollar earners were really pushing the FTSE [100] to 7,100 from the time of the referendum onwards but with sterling getting rather stronger in recent days, the last interest rate cut has been signalled by the Bank of England … we’re seeing the market cool off a bit,” Mir said in a Tip TV segment for Proactive Investors.

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