The reaction so far is a bit disappointing to be honest
We’ve got the hike, and a pretty bullish vote if you ask me but the pound has sold the fact, as expected. 1.3096 was the worst on one of my charts and we#ve bounced to 1.3133. Given the fact we haven’t seen a bigger drop, we may find opurselves moving back up.
There’s not a lot of change to the forecasts so this hike looks more and more like just a correction of the August 2016 cut.
For trading now, if we don’t revisit (or if we do but don’t break) the lows, we have every chance of going higher and we’ll see whether there was real momentum behind the buying from late l;ast week down in the mid-1.30’s.
It’s all finely balanced so let the price action do the talking.
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