Barclays recommends selling GBPUSD

Barclays is recommending selling GBP against US Dollar this week as the Bank prefers to sell the pair in the short term with the target at 1.2810. A stop loss is preferred at 1.3260. The bank preferred to sell GBPUSD as BoE rate hike this week is expected, in the pricing already, so the decision will have no positive impact on the pound against most major currencies. The interest rate is expected to be raised from 0.50% to 0.75%.