GBP showed a very fluctuate performance during last three months. The main reason comes from the uncertain on Brexit agreement and risk of hard Brexit. Until in the mid of November, a large progress shown, that British and Euro successfully found a common ground on the Brexit agreement. How the relationship between British and Euro will be, determine GBP future performance.
On fundamental analysis, how will British future economy will be still not clear as the agreement is not published yet and it needs the approval from British council. It is possible that the agreement being rejected as part of the council member already show disagree view. If this agreement is failed, there will be not enough time to seek another one, a hard Brexit will very likely happen. On the other hand, if the agreement is approved, this will erase the market concern on British future economy.
From technical side, GBP may be very fluctuated in December. It is believed that most negative effects on Brexit is already shown, even hard Brexit happened, the depreciation rate should not as sharp as before. The expecting low price level will be as last year June at 1.2603. It is recommend to hold GBP now and wait for the result and detail from British council.