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- FTSE100 has formed a temporary bottom around 7282 and jumped sharply from that level. The index jumped till 7442 yesterday and is currently trading around 7448.
- Intraday trend is slightly bullish as the index is trading slightly above cloud in both hourly and 4- hour chart.
- On the higher side, any break above 7445 confirms minor bullishness, a jump till 7550/7600 likely.
- The near term support is around 7375 (200- H MA) and any break above will drag the pair down till 7350/7282 in the short term.
It is good to buy on dips around 7435-7440 with SL around 7390 for the TP of 7550/7600.
