Brexit is almost here, risk open to 40-day ma at 1.2420 - Scotiabank

Analysts at Scotiabank noted that Brexit is almost here.  

Key Quotes:

"Article 50 declaration is expected tomorrow and extensive negotiations over the next two years will follow to iron out the terms of the divorce. 

The event itself is well-factored into the GBP, the uncertainties surrounding the process perhaps less so. 

We still think the GBP is at risk of slipping back in the near-to-medium term to reflect some of these risks. 

Weakness below 1.2535 may see Cable slip back to the low 1.24s (40-day MA at 1.2420)."