they sighted the following reason
1.Euro area tensions have eased following the ECB’s
announcement of its new sovereign bond buying programme, and EUR/GBP has
risen in recent weeks.
2. While implementation risk remains in Europe, 'safe haven' correlations for GBP have now largely disappeared.
3. The MPC continues to undertake monetary easing and we expect a new round of quantitative easing in November.
4. the GBP is no longer significantly undervalued against
*GSDEER 'fair value' estimate, eroding some of its external
competitiveness and providing additional motivation for monetary
stimulus.
US names on monday leaked information that they are still holding longs taken circa 0.7963 with targets at 0.8290. Lets wait and see how it turns out
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