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GBPJPY: Bear Pressure Builds Up On The 191.93 Level

GBPJPY: GBPJPY may be consolidating within its broader range but looks to weaken further towards the 191.93 zone. On the downside, support comes in at the 192.00 level where a violation will aim at the 191.00 level. A break below here will target the 190.00 level followed by the 189.00 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance lies at the 194.00 level followed by the 195.00 level where a break will aim at the 196.00 level. A cut through here will aim at the 197.00 level. Further out, the 198.50 level comes in as the next resistance All in all, the cross remains biased to the downside nearer term

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