FTSE100 has breached key support... keep an eye on daily close

FTSE 100 index has breached key support of 6950 and is now trading around 6930 levels. Pair has rebounded at least thrice from near 6950 levels this month.

Also note that index has breached 6942 – monthly Fibonacci Pivot R1 level. A daily close below 6942 would open doors for a much deeper retracement to 6830-6800 levels.

Meanwhile, daily close above 6950 would keep doors open for a move back to 7K levels.