Forex Trend Analysis Report
Prepared for you on Thursday, August 18, 2022.
British Pound/Mexican Peso (FOREX:GBPMXN)
Bear Market Rally (-75) - GBPMXN is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on GBPMXN as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid GBPMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPMXN
The long-term trend has been DOWN since Feb 24th, 2022 at 27.349550
The intermediate-term trend has been DOWN since Aug 12th, 2022 at 24.294649
The short-term trend has been UP since Aug 17th, 2022 at 24.199358
Smart Scan Analysis for GBPMXN
Based on our trend formula, GBPMXN is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).