Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
British Pound/Malaysian Ringt (FOREX:GBPMYR)
Sidelines Mode (-55) - GBPMYR 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 GBPMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPMYR
The long-term trend has been DOWN since Sep 28th, 2021 at 5.6921291
The intermediate-term trend has been UP since Oct 19th, 2021 at 5.7432293
The short-term trend has been DOWN since Oct 22nd, 2021 at 5.7317485
Smart Scan Analysis for GBPMYR
Based on our trend formula, GBPMYR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).