GBP/USD: BNP Paribas' stop loss triggered but they remain bearish

BNP expects monetary easing by the BoE today (Thursday):

"Our economists expect a 0.25% key rate cut and a £50bn increase in QE (quantitative easing).

Although this monetary easing is already largely taken into account in current prices, the markets may underestimate the extent of this monetary easing.

GBP/USD hit our stop at 1.3350 on Tuesday, but we remain of the view that the pair will drop in the coming weeks. We anticipate a move under 1.30 by the end of Q3," says BNP bank.