Sunday's defeat was the only the third of the season for the Foxes and they now have a significant recovery period before they face Norwich City at home on 27 February.
Despite the loss, Schmeichel said the East Midlands club will look forward rather than dwelling on the result.
He said: "We have only lost three games this season so we will not get bogged down by this, in the same way we do not get too ahead of ourselves if we win.
"It is a loss and we will get on with it.
"People were maybe getting a little bit ahead of themselves outside of the club - not within.
"But we will keep going. Why shouldn't we bounce back? It is a loss, we move on and we will have the same attitude."