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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
British Pound/Chinese Yuan Renminbi (FOREX:GBPCNY)
Bear Market Rally (-75) - GBPCNY is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on GBPCNY as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid GBPCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPCNY.
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 GBPCNY
The long-term trend has been DOWN since Apr 11th, 2024 at 8.885569
The intermediate-term trend has been UP since May 6th, 2024 at 8.908951
The short-term trend has been DOWN since May 8th, 2024 at 8.849969
Smart Scan Analysis for GBPCNY
Based on our trend formula, GBPCNY is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 8.878282 | 8.878864 | 8.845524 | 8.847023 | -0.031259 |
| Prev. Close | Volume | Bid | Ask | Time |
| 8.878282 | 2024-05-09 02:48:16 |