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  • Japan Minister of Finance Aso: - Yellen said she had no intention of tightening policy - Global economy faces uncertainty, warrants caution $JPY $USD
  • 🇺🇸 Michigan Consumer Sentiment Final (FEB) Actual: 76.8 Expected: 76.5 Previous: 79 https://www.dailyfx.com/economic-calendar#2021-02-26
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  • Heads Up:🇺🇸 Michigan Consumer Sentiment Final (FEB) due at 15:00 GMT (15min) Expected: 76.5 Previous: 79 https://www.dailyfx.com/economic-calendar#2021-02-26
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  • S&P 500 on the verge of breaking the March trend-line. Nasdaq 100 already below March trend-line, may target long-term support. Get your #equities market update from @PaulRobinsonFX here:https://t.co/jdnlfhCxEz https://t.co/G0aBiMAnuj
  • Pre-open, the US indices look to be tentatively holding support - 50SMA and channel support for $SPX eminis and H&S neckline for Nasdaq minis - but a full rebound looks like it will have to be forged during active trade https://t.co/Rlax9GFLo0
Sterling Q1 2021 Forecast: GBP/USD Closing a Tumultous Year on the Front Foot

Sterling Q1 2021 Forecast: GBP/USD Closing a Tumultous Year on the Front Foot

Justin McQueen, Analyst
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  • GBP/USD Outlook – Less Uncertainty and a Soft USD Backdrop.
  • EUR/GBP Outlook – Modest GBP Upside Against EUR on a Trade Deal.
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There is a long-standing argument among market analysts - which is more important, technical, or fundamental analysis? This argument can go on for a long time but in the case of Sterling over the past few months, fundamentals – Brexit and Covid-19 – have been the main drivers of price action. What lies ahead?

Technical vs Fundamental Analysis in Forex Trading

One of the most liquid trading pairs, GBP/USD is closing the final quarter of the year on the front foot with gains of over 4%. EU-UK trade negotiations are going down to the wire with an outcome not known at the time of this analysis, though, the expectation is that a thin deal will be announced. That said, in such a scenario, reduced political headwinds in the short run for GBP/USD, alongside a softer USD environment may well further initial gains towards 1.3700. However, as optimism rises that a deal can be reached, there is always the risk of a “buy the rumour, sell the fact” response (this same dichotomous response played out after the 2019 General Election).

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