Brexit - Goldman Sachs 'continue to see risks to the Pound as skewed to the upside'

GS reasoning on this as follows, but first they doe warn or an important caveat

• Political developments in the UK remained fluid … a sense of uncertainty for the Pound
• we cannot predict the twists and turns the political process will take over the coming days

Print that out and stick it to the fridge, reread every time you begin to get confident you can see the future …. (IMO)

OK, GS reasoning:

• The challenge of getting Brexit over the line can be boiled down to a relatively simple problem: the default option of leaving the EU without a deal is unacceptable to a majority of Parliament, while any alternative option appears unacceptable to a large portion of the Conservative Party.
• unless Parliament revokes Article 50, a UK government will eventually need to decide between these options
• (its) increasingly difficult, in our view, for the current government to back a minority "no deal" position. We therefore continue to see risks to the Pound as skewed to the upside. … it looks like the Brexit-related uncertainty around the currency could come down sooner rather than later.