Photographs appear to show Chelsea defender Cole making the gesture during Sunday´s 1-0 Barclays Premier League defeat at Emirates Stadium, with reports on Monday claiming it was directed at Gunners supporters who had jeered him throughout the match.
The FA have confirmed referee Alan Wiley did not include the incident in his post-match report so they will now turn to other evidence - including photographic and video material - before deciding whether Cole should be charged.
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