HSBC analysts anticipate a Swiss franc (CHF) rally and a potential rate cut by the Bank of England (BoE), leading to a sell recommendation for GBP/CHF. They believe CHF shorts appear vulnerable and the currency remains resilient. Despite elevated services inflation and wage growth in the UK, HSBC expects the BoE to ease monetary policy, with a possible rate cut in June. The analysts recommend selling GBP/CHF at 1.1350, a level the currency reached on Tuesday following comments from Monetary Policy Committee member Catherine Pill.