Sterling turns lower after a Bank of England interest rate announcement, quickly retracing a brief rise immediately after the decision. The BOE voted 9-0 to hold interest rates at 0.75%, as expected. It said it sees gradual, limited rises in the key interest rate over the coming years and that rate rises may be larger than the market expects. The BOE raised its 2019 GDP forecast to 1.5% from 1.2%, though it said its forecasts were based on assumptions of a smooth Brexit. GBP/USD is last down 0.1% at 1.3040, having traded at around 1.3054. EUR/GBP rises to 0.8595, up 0.2% from around 0.8581 beforehand.
The most powerful patterns for Forex traders
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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