Here is a model not so bearish on the pound - Westpac

Analysts at Westpac are not as bearish as the rest of you might be on the pound.

Key Quotes:

"GBP was our least favoured currency short last week but our order to sell strength was not filled and if anything our overall stance is less negative, mainly due to our model.

Our model is watching gilt yields - they are spiking and the weak GBP is reducing the odds of more BoE easing.

The model senses this dynamic and turns less GBP negative."