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Panic stations as sell off continues | 7510 7434 7350 support | 7576 7620 resistance

#1 · 3rd August 2023, 9:18 am

FTSE 100 technical analysis for 3rd August 2023

Will the FTSE 100 climb today?

European markets suffered a major blow on Wednesday as traders reacted to the downgrade to the United States’ debt rating.

In London, the FTSE 100 dropped by as much as 1.9pc during the day but had clawed back some of its losses by the time the closing bell sounded in the afternoon. The blue-chip closed the day 1.4pc lower at 7,561.63. The FTSE 250 midcap index shed 1.38pc to close at 18,812.88. Meanwhile, France’s stocks closed down 1.3pc and those in Germany fell 1.4pc.

#2 · 3rd August 2023, 11:12 am

BoE Votes 6-3 To Raise Bank Rate By 25Bps To 5.25%, As Expected