GBPCAD - (UPDATE) Break or rebound?

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

From my last GBPCAD, there was bearish RSI divergence, and it still continues. As stated, there was a possibility of another swing high with lower RSI, and it has shown itself in the past week. A bearish engulfing candle on the Daily + bearish RSI divergence combination offers a SHORT opportunity for this pair. Price is currently at the lower bound of a rising wedge pattern and could break down from it. Ideally looking for a retrace before the drop, to get a better R:R for this set-up.

The TP levels have been shifted from the previous analysis. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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