Reuters poll of over 60 FX strategists, taken Aug. 28-Sept. 3

  • resulted in a median consensus forecast for cable at 1.31 in a month
  • and 1.34 in 12 months time (range of forecasts was huge, 1.20 to 1.47)

And for EUR/GBP:

  • 90.0 in a month and 89.0 again in a year

Some of the comments reported:

  • "The UK is under pressure from all sides - Brexit, COVID-19 and structural capital outflows," noted strategists at Jyske Bank. "However, GBP remains undervalued, UK equities are heavily underweighted, and our main scenario is ultimately a limited, 11th-hour trade agreement with the EU."
  • "Despite the current standstill in negotiations, we think that a basic FTA is still narrowly the most likely scenario this autumn. We think it's unrealistic to expect a sudden plunge in GDP once the transition period ends," said James Smith at ING.