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Forex Trend Analysis Report

Prepared for you on Tuesday, April 16, 2024.

British Pound/Chinese Yuan Renminbi (FOREX:GBPCNY)

Long-Term Downtrend (-90) - GBPCNY is in a strong downtrend that is likely to continue. While GBPCNY is showing intraday strength, it remains in the confines of a bearish trend. 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.

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FOREX_GBPCNY
Open High Low GBPCNY Price Change
8.834499 8.859547 8.825913 8.858248 +0.023749
Entry Signal

MarketClub’s Trade Triangles for GBPCNY

long term down The long-term trend has been DOWN since Apr 11th, 2024 at 8.885569

intermediate term down The intermediate-term trend has been DOWN since Mar 27th, 2024 at 8.977504

short term down The short-term trend has been DOWN since Apr 10th, 2024 at 8.946446

Smart Scan Analysis for GBPCNY

Based on our trend formula, GBPCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for GBPCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
8.834499 8.859547 8.825913 8.858248 +0.023749
Prev. Close Volume Bid Ask Time
8.834499 2024-04-16 10:17:52
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