GBPCAD - Bearish RSI divergence, incoming price correction

PAIR IN FOCUS: GBPCAD
ACTION: SHORT
HORIZON: MEDIUM-TERM

Price is currently moving in a rising wedge pattern and could potentially break down of it. A bearish RSI divergence signal offers a short opportunity for this pair. It is possible that price makes another spike higher with lower RSI before the correction starts.

The TP levels are indicated, plan your own Stop Loss. Bearish RSI trade entries are subjective and therefore some may prefer to hold a larger SL, while others may not. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

Free Telegram channel for FX Ideas -- https://t.me/tradermozo