#GBPUSD Long Term Technical Picture
A short position could be established with a very tight stop loss. This would be a very discretionary trade as the monthly trend is up as well as the weekly trend. It would be based on R:R. By looking at price action added to the closer proximity to the low of the year, it was a clear opportunity to get a possible extension of the yearly range south if it actually happens.
Interestingly enough, both RSI and MACD demonstrate a very discrete but confirmed divergences.
While actual price action shows price making higher highs and higher lows, RSI shows action inside a sideways parallel channel. A break of of the lower line is expected thus drawing down force pressure.