GBPNZD - Bearish Breakout + Divergence

Taking a look at the 1 hour timeframe, it's quite noticable that we have a clean breakout to the downside along with bearish divergence with RSI.

This isn't much of a surprise as this pair is heavily overbought on the daily and weekly timeframes.

Next week we get the latest policy decision from the BOE which likely will contribute to stirling weakness heading into the meeting.