Forex Trend Analysis Report
Prepared for you on Tuesday, October 3, 2023.
British Pound/Chinese Yuan Renminbi (FOREX:GBPCNY)
Strong Downtrend (-100) - GBPCNY is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, GBPCNY continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid GBPCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPCNY
The long-term trend has been DOWN since Sep 22nd, 2023 at 8.810784
The intermediate-term trend has been DOWN since Jul 25th, 2023 at 9.156591
The short-term trend has been DOWN since Oct 2nd, 2023 at 8.718983
Smart Scan Analysis for GBPCNY
Based on our trend formula, GBPCNY is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).