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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
British Pound/Chinese Yuan Renminbi Offshore (FOREX:GBPCNH)
Long-Term Downtrend (-90) - GBPCNH is in a strong downtrend that is likely to continue. While GBPCNH is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid GBPCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPCNH.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for GBPCNH
The long-term trend has been DOWN since Apr 17th, 2024 at 9.016210
The intermediate-term trend has been DOWN since Apr 1st, 2024 at 9.136005
The short-term trend has been DOWN since May 8th, 2024 at 9.025570
Smart Scan Analysis for GBPCNH
Based on our trend formula, GBPCNH is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 9.033010 | 9.042240 | 9.003035 | 9.034950 | +0.001940 |
| Prev. Close | Volume | Bid | Ask | Time |
| 9.033010 | 2024-05-09 09:34:28 |