MariusFX10
Short

GBP/NZD Wide bearish RSI divergence

FX:GBPNZD   British Pound / New Zealand Dollar
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This pair is was in an uptrend in the last three months. On the monthly we have this bullish candle with a small wick rejection candle at monthly resistance level 2.05378 and also in recent time on monthly the price just rejected the 50 EMA and the 14 EMA go very close to the 50 EMA . That's why this trade is gonna be just a short term one because the monthly price action is not goot. On daily we got this wide bearish divergence in the overbought zone and we are in this ascending channel . The price just hit the top of this channel as well as the monthly level with one green doji followed by a red doji candle just confirming more that a short bear trend is coming. Now on the 1 hour time frame the price created an inside descending channel . Right now the price just hit the 50 EMA and the top of the channel. We are looking for the price to break the longer term trend line and looking for a pull back and to enter with a SL above the previous high and the TP at the daily minor level for a quick 1 : 1. Let me know in the comments your thoughts about this. Keep it profitable
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