GBPJPY

After 5 weeks of blood on this pair that saw the price slip on a banana peel from 205.995 past the psychological mark of 200.00 and continued to melt all the way down to 186.974, the previous week candle might inspire hope for the bulls.

As we wait for the macros this week, we might see a comeback to the 200.00 psychological mark. The current candle barely opened, but already it has dropped 1.40% from open. This will be a significant bottom wick should we see price flipping and will confirm that the price has found support at 186.974.