The British pound is again arousing traders’ interest. Experts at BCA Research believe the pound sterling has a chance to continue its recovery. What is more, sterling could emerge as the winner in its competition with the US dollar. If all goes well, the British pound could return to the levels it traded at before Brexit — that is, before the UK decided to leave the European Union.

In the current environment, BCA Research’s currency analysts are confident that the decline in the US stock market, driven by President Donald Trump’s tariff policies, will put selling pressure on the dollar. Against this backdrop, both the euro and the pound could come out ahead. Moreover, it is sterling that may become the “big winner” in the case of the greenback’s protracted weakness.

According to analysts, the global market landscape changed after Trump launched his campaign to raise tariffs on many countries. If the US effectively withdraws from global trade, it will be the first to suffer. In such a scenario, the greenback could lose its status as a “privileged safe haven”, and the US dollar may face a “structural shift” going forward.

“Given that an exchange rate is a relative price, an American Brexit offsets the British Brexit and could bring the GBP/USD pair back to the $1.50–$1.80 range,” BCA Research notes.

In this situation, analysts recommend taking a long position on GBP/USD, as they have done themselves. The firm expects that the pound could reach $1.60 within the next few years.

The current investor flight from the US dollar could also serve as a catalyst for Bitcoin’s growth. BCA Research predicts that the world’s most popular cryptocurrency could soar to $200,000 over the next two years. At the moment, Bitcoin is trading near $107,738.

Despite the potential for some downside in the flagship crypto, Bitcoin’s bullish trajectory remains “one of the high-conviction structural long positions,” the analysts emphasize.