Is EUR/GBP a parity trade? – Bank of America Merrill Lynch

From BAML:
In the aftermath of the EU Referendum, the analyst community has made significant revisions to its forecast projections for GBP over the coming quarters. While part of this represents a mark-to-market exercise following the significant post-Referendum depreciation, the market remains split on whether the bulk of the sell-off is behind us or whether the worst is yet to come. Client interactions have increasingly focused on EUR/GBP against the backdrop of an increasing number of analysts calling for EUR/GBP to hit parity in 2017.