GBP/JPY intraday: the downside prevails as long as 182.68 is resistance
182.68 is our pivot point.
Our preference: the downside prevails as long as 182.68 is resistance.
Alternative scenario: above 182.68, look for 183.21 and 183.52.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 182.72 and 183.13).
Supports and resistances:
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