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GBP/USD may challenge Friday’s lows
Today’s Autumn Statement offers the potential for volatility, even if the actual substance is likely to be thin on the ground. We have seen early weakness in GBP/USD, with the possibility that the price moves back to the Friday low of $1.2320.
A move below here still targets $1.21. The price must clear the 50-day simple moving average (SMA) - currently $1.2535 - to begin a fresh upward move.