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GBP/JPY awaits UK employment data

FXStreet (Mumbai) - The GBP/JPY trades in the sideways manner at 177.70 ahead of the data in the UK, which is expected to show a drop in the jobless claims and unemployment rate.

Capped around 178.00

The pair was rejected at 177.87 early today, making it a second consecutive failure around 178.00 levels. The pair was rejected at 178.00 levels in the previous session. The British Pound lacked momentum as investors await the UK employment number. The Jobless rate is expected to have dropped further to 5.6% in the quarter to February, while jobless claims are seen falling by 29,500 in March.

GBP/JPY Technical Levels

The immediate resistance is seen at 178.00, above which gains could be capped at 178.40. On the flip side, a break below 117.50, could drive the pair lower to 177.04 (10-DMA).

AUD/USD testing highs at 0.78

The Australian dollar bounced-back versus the US counterpart in the European morning, wiping out partial losses from Asia, as the Aussie strives to resume its upward trajectory in another attempt to retest three week highs reached yesterday at 0.7825.
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EUR/USD remains a sell on strength – SG

Alvin Tan, FX Strategist at Societe Generale, explains that accelerating capital outflows will weigh on the euro, and suggests waiting for an opportunity to sell EUR/USD strength.
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