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GBPJPY looking for new multi-week highs

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GBPJPY is doing a bullish consolidation above 200 SMA, after a crossing with the 500 SMA on H1 chart.

During this week, it’s possible to see new multi-week highs, because pair is trying to break the last high made during today’s session, around the 185.00 psychological level.

In another scenario, GBPJPY could start to do a pullback towards the 500 SMA, which is located at the 183.60 level approximately, but the current structure is advising for a rebound over there.

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