FTSE trades below 8,000 for the first time since November

The FTSE 100 has just taken a dive below the 8k handle for the first time since November 13. The fall came even as US equity futures pare earlier losses following the US PCE report. The move to below 8k was pretty rapid, but as suggested first thing today, such a move was on the radar and kind of expected here and that is why you were alerted to the potential. The index is right hovering around 8k and looking at the charts on this one the next notable support level is now at 7,915, from a previous low set back in August, if this move lower extends. One reason for this drop could be the further gains right now in the GBP/USD. That has now risen above 1.2550