Steve's GBP BasketShort
The basket has now come up against the all time low from 2012 and it has developed into a flat bottomed triangle, has just crossed negative and is trending lower but not yet oversold. A break here could develop into a meaningful move lower.
RSI divergence would require a rising trend in RSI which is not present. Most of all I woul caution against the idea of 'hidden Bulls' the whole concept of technical analysis is that nothing is hidden you can see the entire market and what it is thinking, if themarket was dominated by bulls price would be rising.