GBPUSD Analysis : 14 July 2021 - Delta Virus Surge in UK Weakens Pound

GBPUSD analysis today, July 14, 2021, will highlight the movement of the Pound Sterling currency against the US Dollar. The movement of the Pound Sterling market against the US Dollar in Tuesday's trading, dominated by a weakening in the British currency compared to the American currency. Poudsterling's weakness is due to market participants' concerns about the Delta virus surge that occurred in the UK. Apart from concerns about a surge in the new Delta variant of the Corona virus, the weakening of the Pound Sterling also occurred due to the strengthening of the US Dollar. For today's market movement, it is estimated that the Pound Sterling will continue its weakness against the US Dollar. However, market participants are still waiting for the release of US inflation data which will be released later tonight starting at 19:30 WIB. The US Dollar currency is still in a strengthening condition compared to some other major currencies. The strengthening of the US dollar in received support from the release of US inflation data last night. The economic data released overnight were CPI and Core CPI which were released above the prediction and the previous period. This data measures the prices of goods and services at the consumer level and will be able to help the US Central Bank to determine its economic policy. However, not long after the release of the data, it turned out that the US dollar weakened due to concerns about a spike in the US inflation rate again. This is still a benchmark for market participants to read the policy direction that will be taken by the Fed. On the other hand, after the release of inflation data that was above the prediction and the previous period, it was not accompanied by an increase in US bond yields. Market participants expect yields not to be pushed up by the inflation data overnight, because they think that this increase in inflation is only temporary. In addition, bond yields have increased first in the previous few days. The increase has touched around more than 5% for 2 consecutive days, at this time the bond yield is moving flat in the range of 1.36%. The focus of market participants is on Fed Chair Powell Testifies tonight at 23:00 WIB and also the inflation data for the price level at the producer level which will be released at 19:30 WIB.

GBPUSD analysis today July 14, 2021

Today's GBPUSD prediction and analysis is expected to continue its weakness/decline and the recommended OP (Open Position) is SELL at the level of 1.38000. With a Target Profit (TP) of 10 - 20 points and a Stop loss (SL) of 5 - 10 points. This the GBPUSD analysis today, July 14, 2021, which discusses the surge in Covid-19 patients of the Delta variant in the UK, has weakened 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.