Forex Daily Analysis: June 10, 2021 - Sausage War Weakens Pound

Today's forex daily analysis for June 10, 2021, will review the movement of GBPUSD. The movement of the Pound Sterling weakening against the US Dollar is predicted to continue. The weakening of the pound comes after the European Union accused Britain of violating the contents of a previously agreed agreement. The UK has failed to carry out strict checks on the shipment of goods from British territory to Northern Ireland. This tension has been dubbed the "sausage war" by the electronic media and newspapers in the UK, this is because the goods in question are all meat products that have been frozen or chilled meat. In the previous market trade, the pound had strengthened against the US Dollar because the UK plans to start easing the lockdown which will be implemented on June 21, 2021. However, the strengthening had continued after market participants ignored the sausage war feud in the 2 regions mentioned earlier. GBPUSD could weaken against the pound sterling against the US dollar, if European Commission Vice President Maros Sevic has warned that the EU is currently considering a legal move aimed at prosecuting the UK. If this plan can be realized, then Britain will be dragged into the international high court, if there are no obstacles can be realized as soon as the fall. If this happens, it is certain that the UK will be threatened with meat import fees and will be sanctioned with trade quota restrictions. The US dollar has strengthened against several other major currencies in market trading in recent days. The strengthening of the US dollar occurred as a result of the potential for increased infrastructure spending in the US and the start of solid US economic data releases. In addition, development in all sectors of the US economy is increasingly showing a real and sustainable direction.

Forex Daily Analysis Predictions

Today's FOREX prediction on the GBPUSD pair is expected to weaken/fall and the recommended OP (Open Position) is SELL at the level of 1.41000. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the daily forex analysis on June 10, 2021 which discussed the existence of a sausage war between the EU (European Union) and the UK, causing a weakening of the Pound Sterling against the US Dollar. Keep Money Management and Risk Management first in your trading. Visit GIC Indonesia to get information about the world of trading. You can also join us in the GIC Trade Telegram Community and GIC Trade Telegram Channel. Don't forget to check out the GIC Indonesia Youtube account which is full of a lot of information, and follow our Instagram account to get information about various interesting webinars that you can participate in.