GBPUSD News Retracement 06.07.2023 by BDSwiss_Academy on TradingView.com
BOE’s Bailey stated that Inflation is way too high above the 2% target indicating that BOE is committed to hike again.
The market reacted to the announcement with an intraday shock, causing the GBPUSD to jump. Retracement is probable since we do not expect further GBP appreciation.
P.S. 1.618 is actually the 61.8% of the upward movement and 61.8 Fibo retracement level.
ADP Non-Farm Employment Change is on the way. If USD appreciates enough we will have retracement.
