Bank of America Global Research discusses GBP outlook and sees a scope for higher GBP in April while staying bearish over the medium-term.

"These have been interesting times for GBP which has taken on the unusual role of a safe haven proxy and one that does not sit well with us given our priors on how GBP has historically traded on risk aversion," BofA notes.

"Systematic signals and April seasonality lend some support to GBP over the near-term, but our medium-term bearish views remains unchanged," BofA adds.