Forex Trend Analysis Report
Prepared for you on Saturday, June 3, 2023.
British Pound/Canadian Dollar (FOREX:GBPCAD)
Sidelines Mode (+55) - GBPCAD is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid GBPCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPCAD
The long-term trend has been UP since Oct 26th, 2022 at 1.577335
The intermediate-term trend has been UP since Apr 21st, 2023 at 1.684300
The short-term trend has been DOWN since Jun 2nd, 2023 at 1.676890
Smart Scan Analysis for GBPCAD
Based on our trend formula, GBPCAD is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).