GBP/AUD Short - Clear Regular Divergence

5 May 2017

Price has reached the top of a bullish channel where regular divergence is clear. Last time we had regular divergence at the top of the channel price fell to the bottom of the channel (as shown). I expect price to do the same thing here. Stops should be placed above the channel in case of a breakout and targets should be placed at previous resistance or the bottom of the channel.