• Great levels for GBP buyers with sterling further below $1.50 and close to five-year lows. Lots of risk looms Wed when BoE minutes come due along with a fresh round of employment figures from Britain - all of which could be overshadowed by the Fed's afternoon policy announcement and press briefing by Chair Janet Yellen. 
  
  
• The next 50 days look daunting for sterling with the risk of a hung parliament on the rise ahead of Britain's May 7 general election. 
  
  
• GBP buyers want to hedge their exposure in a way that allows for participation should the pound continue to grind downward. A way to do that, for example, would be for buyers to cover half of their need over the next six months with forward contracts.