Forex Trend Analysis Report
Prepared for you on Wednesday, December 6, 2023.
British Pound/Chinese Yuan Renminbi Offshore (FOREX:GBPCNH)
Sidelines Mode (-55) - GBPCNH 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 GBPCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPCNH.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPCNH
The long-term trend has been DOWN since Oct 2nd, 2023 at 8.862395
The intermediate-term trend has been UP since Nov 3rd, 2023 at 9.001170
The short-term trend has been DOWN since Nov 30th, 2023 at 9.020585
Smart Scan Analysis for GBPCNH
Based on our trend formula, GBPCNH is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).