Free Daily Analysis
Forex Trend Analysis Report
Prepared for you on Monday, May 6, 2024.
British Pound/CFA Franc BCEAO (FOREX:GBPXOF)
Bull Market Weakness (+75) - GBPXOF is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on GBPXOF as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid GBPXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPXOF.
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 GBPXOF
The long-term trend has been UP since Dec 6th, 2023 at 765.0537
The intermediate-term trend has been UP since Apr 29th, 2024 at 767.5243
The short-term trend has been UP since Apr 29th, 2024 at 765.0537
Smart Scan Analysis for GBPXOF
Based on our trend formula, GBPXOF is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 767.2505 | 767.2505 | 767.1159 | 767.1159 | -0.1346 |
| Prev. Close | Volume | Bid | Ask | Time |
| 764.5632 | 2024-05-01 21:07:16 |