In view of analysts at BBH, the door remains open for further GBP downside in the near term. Key Quotes “Sterling lost nearly 3.7% over the course of the week, and the selling does not appear to have exhausted itself”. “It recorded an outside down day before the weekend to record new multi-year lows and negate the two-day consolidation that had spurred some talk that market had gone too far”. “Even if it has gone too far, it surely does not mean that it can't go further. And that seems to be the most likely near-term technical scenario”. For more information, read our latest forex news.