Forex Trend Analysis Report
Prepared for you on Wednesday, January 22, 2020.
/British Pound (FOREX:BYNGBP)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for BYNGBP
The long term trend has been DOWN since Oct 17th, 2019 at 0.38607500
The intermediate term trend has been UP since Dec 23rd, 2019 at 0.36674513
The short term trend has been DOWN since Jan 22nd, 2020 at 0.36094020
Smart Scan Analysis for BYNGBP
Based on a pre-defined weighted trend formula for chart analysis, BYNGBP scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).