GBP/JPY intraday: rebound
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Our pivot point is at 205.22.
Our preference: rebound.
Alternative scenario: below 205.22, expect 204.73 and 204.45.
Comment: the RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (205.15) but under its 50 period moving average (206.27).
Supports and resistances:
207.08 **
206.79 *
206.50 **
206.22
205.60 last
205.40
205.22 **
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