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Gastaldy highlighted that throughout the consolidation seen since early August, the index has been subject to bullish pressure, with its troughs getting steadily higher.

We are on the verge of a breakout, Valerie Gastaldy, general manager of Paris-based Technical analysis firm Day by Day, said of the index, which has been stuck within a relatively narrow 200-point range over the past couple of months.

From a technical perspective, the prospects for the FTSE 100 are positive.