Readiness remains favorable for bearish traders ahead of the vote on macroeconomic data and Brexit in the UK

• Despite the recent drama on Brexit, the cross found support before the 144.00 and also managed to defend its lowest months.

• However, given the recent pause under the support of the 2 1/2 month uptrend line, the technical setup seems to be shifted in favor of bearish traders.

• The night shift below the 50-day SMA for the first time since the end of January. indicates a growing sales bias and adds credibility to the short-term negative outlook.

• Oscillators on the daily chart are just starting to pick up speed and a sustained breakthrough in the 143.75-70 region could lead to additional sales.

• Below the mentioned support, the cross will probably become vulnerable to further accelerate the slide towards the intermediate support 143.30 en route to the 143.00 handle.

GBP / JPY daily chart