GBP/JPY intraday: rebound

190.16 is our pivot point.

Our preference: rebound.

Alternative scenario: the downside breakout of 190.16 would call for 189.41 and 188.96.

Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (190.76) but under its 50 period moving average (190.84).

Supports and resistances:

193.08 **

192.63 *

192.19 **

191.74

190.83 last

190.45

190.16 **