The outcome of the early elections to Parliament set to be held in the United Kingdom next month, puts the pound before two choices, according to analysts at HSBC, the largest bank in the UK.

According to them, no option has been taken into account in quotes.

"A political outcome will determine the future of the British currency," analysts said.

They predict that the outcome of the election, which will set the stage for a Brexit agreement between London and Brussels, could push the pound to $1.45 by the end of next year.

Meanwhile, Great Britain's exit from the European Union without a deal can cause the GBP/USD pair to fall to 1.10.

"Any resolution to this situation is good, whether it be another referendum or a Brexit deal. Political disputes will begin to subside, the national economy may receive a fiscal impetus, and the Bank of England may begin to consider raising interest rates. A reverse outcome may increase concerns about a recession in the country," HSBC said.

"According to recent polls, the Conservative Party is a favorite of the race. However, all the scenarios are still open, anything can happen. The situation with a suspended Parliament, in which neither Conservatives or Labour will get a majority, will be the worst option for the pound," analysts said.