GBP/USD long is Citi's trade of the week

Consider buying GBP/USD this week, advises CitiFX in its weekly FX pick to clients.

"FOMC minutes could sound comparatively hawkish on Wednesday, but to the extent that underlying data flow has weakened, these will be seen as more dated.

The Bank of England Thursday should not make a dovish shift despite Haldane's recently more balanced speech. It would not be a major surprise to see Weale vote for a hike, leaving some upside risk against the 8-1 base case. Holding the view that prices will recover on tighter labor dynamics despite global wobbles should help GBP," Citi says as a rationale behind this call.

Citi recommends buying GBP/USD from 1.5192, targeting 1.5390, with a stop loss 1.5060. Last at 1.5160 (it's on sale!)

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