GBP/JPY intraday : technical rebound towards 202.59 before a new drop

Our pivot point is at 202.59.

Our preference: technical rebound towards 202.59 before a new drop

Alternative scenario: above 202.59, look for 203.04 and 203.31.

Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (202.12) but below its 50 period moving average (202.32).

Supports and resistances:

203.31 **

203.04 *

202.59 **

202.41

202.20 last

201.61

201.34 **