Royal Bank of Scotland - "The outlook for the GBP remains weak after a dovish speech by BoE’s Fisher and as BoE members in testimony reiterated the views discussed in the recent MPC meeting that they were prepared to take further measures to spur growth. The UK press reports that Deputy Governor Tucker discussed the possibility of charging banks for leaving cash on deposit at the central bank, which appears to mean targeting negative cash rates.
GBP continues to trade below a key support line for the last three years, suggesting a significant break and potential for a slide towards 1.478 and possibly much lower."