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03.02.2017 • 12:00 GMT+3
GBP Price Action Setups Post-BoE
James Stanley
- This morning brought another Super Thursday to the fray for the Bank of England, and after the last instance in November saw the BoE guide inflation forecasts higher, producing strength in GBP for the remainder of the month, this morning’s announcement saw the bank take inflation forecasts lower despite the fact that they increased growth forecasts for 2017 by 42% (to 2% from a prior expectation of 1.4%).

- The takeaway price action from this morning’s BoE event was bearish; but given the increased growth forecasts within the U.K. economy, there may be reason for bulls to remain optimistic for higher levels of inflation later in the year, and many of the recently-fired GBP up-trends are finding support at higher-lows.
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