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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
British Pound/Somali Shilling (FOREX:GBPSOS)
Countertrend Down (-85) - GBPSOS is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid GBPSOS?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPSOS.
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 GBPSOS
The long-term trend has been DOWN since Apr 2nd, 2024 at 717.1110
The intermediate-term trend has been DOWN since Mar 28th, 2024 at 724.7240
The short-term trend has been UP since May 3rd, 2024 at 717.1473
Smart Scan Analysis for GBPSOS
Based on our trend formula, GBPSOS is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 715.6177 | 715.7095 | 715.6177 | 715.7095 | +0.0918 |
| Prev. Close | Volume | Bid | Ask | Time |
| 714.0491 | 2024-05-05 21:01:58 |