Citigroup recommends to sell pound before today's meeting of the Bank of England

Citigroup recommends to open short positions in the pair GBP / CAD before the release today the results of the Committee meeting on monetary policy and the announcement of the extent of quantitative easing. According to the expectations of Citigroup, Bank of England today begins a new round of quantitative easing. If that happens, the British pound will again serve as a funding currency, which will put pressure on him. Citigroup as the target for short positions, recommends the level of 1.5500. Stop-loss is recommended to place at 1.6423. These short positions will be relevant for 2 / 4 weeks, provided that none of the orders to close will not be achieved.