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CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved. CFDs are leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your deposits, so please ensure that you fully understand the risks involved.

​​​EUR/USD, GBP/USD and USD/JPY slip on pared back US rate cut expectations

​​​EUR/USD, GBP/USD and USD/JPY slip on pared back US rate cut expectations​ ahead of US Non-Farm Payrolls.​

EUR/USD Source: Bloomberg

​​​EUR/USD rally pauses ahead of NFP

​The EUR/USD rally off the $1.0724-23 December and early-February lows has taken it to Thursday's $1.0874 high before giving back some of its recent gains ahead of today's Non-Farm Payrolls data release.

​The $1.0874 high was made marginally below the February highs at $1.0888 to $1.0897 which represent a resistance area.

​Slips should find support above or near the $1.0796 late-February low.

EUR/USD chart Source: TradingView.com
EUR/USD chart Source: TradingView.com

​GBP/USD rally is running out of steam

​GBP/USD lost upside momentum slightly above the 55-day simple moving average (SMA) at $1.2669 on Thursday, having levelled out at $1.254 earlier in the week.

​Above the 55-day SMA and Thursday's high at $1.2684 lies the 22 February high at $1.271.

​Minor support can be spotted around the early-March low at $1.26.

GBP/USD chart Source: TradingView.com
GBP/USD chart Source: TradingView.com

​USD/JPY consolidates below 34-year high

USD/JPY once again ran out of steam below its 34-year high at ¥151.97, a rise above which and the ¥152.00 mark would target the ¥153.60 July 1987 peak.

​Minor support lies in the ¥150.88-81 region.

​While ¥150.27 underpins, an upside bias remains in play.​​

USD/JPY chart Source: TradingView.com
USD/JPY chart Source: TradingView.com

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