The Pound: Will Today’s Rate Decision Damage the Uptrend?

British Pound tumbled and dropped almost 200 pips. 

The dovish comment from the Bank of England regarding the future rate increases disappointed the traders.  The British Pound fell quickly and sharply after the statement. 

As we can see in the daily bar chart, the upward trend is still in tact.  Before today’s fall, the pound has risen as much as 1,600 pips since the beginning of the year. 

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