Citibank: GBP appears to be better supported

Citibank analysts suggest that the Sterling appears to be better supported as Brexit developments progress ahead of March 29 transition date.

Key Quotes

“With PM May now publicly accepting that a delay to Brexit beyond Mar29 is possible, an extension of Article 50 remains the highest probability outcome in the near term. That said, a ‘no-deal’ scenario still remains albeit with a smaller tail risk but if realized, could lead to a significant depreciation (5-10%).”