Looks like the models might be struggling a little with the interaction of this pouch and pouch 17L off to the SW of the Cape Verde islands. It's still quite possible both pouches will merge and something will form out of this. I certainly wouldn't say the development chances are 0, probably around 20% within 5 days.
Also, it looks like there is a weakness to the north due to a mid-latitude trough weakening the Azores High which is why these pouches are forecasted to move very slowly west for the next several days, but eventually the High builds back in and shunts whatever forms out of this pretty quickly to the west it looks like.
Saved image showing Pouch 17L to the left and Pouch 18L to the right:

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