GBP / USD: what will happen to the pound after Brexit?

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The pound is still in the grip of politics. Meanwhile, the so-called "Day X" is gradually approaching. What will happen to the British currency when the United Kingdom leaves the European Union? Will it reach new local maximums, or will it update annual minimums?

According to a consensus forecast by analysts recently surveyed by Bloomberg, after rising to $ 1.30 by the end of March, the GBP / USD pair will reach $ 1.32 before the start of the second half of the year.

Meanwhile, Westpac experts expect that by the end of March, the pound will fall in price to $ 1.24, since even if the most favorable Brexit scenario is implemented, the country's economy will still weaken.

"After the decline to $ 1.24, the pound will remain here until the middle of the year, and only short bounces can cause potentially positive news," they said.

According to representatives of Credit Agricole, the pound will begin to catch up with the losses incurred as a result of Brexit, approximately in the middle of this year and eventually rise in price to $ 1.40.

"It is possible that the British currency will drop in price before it goes to full recovery of lost positions amid the extinction of fears associated with the release of the United Kingdom from the EU," they noted.

The material has been provided by InstaForex Company - www.instaforex.com