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Forex Trend Analysis Report

Prepared for you on Thursday, December 7, 2023.

British Pound/Nigerian Naira (FOREX:GBPNGN)

Bull Market Weakness (+75) - GBPNGN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on GBPNGN as it may be in the beginning stages of a reversal.

Is it time to buy, sell, or avoid GBPNGN?

MarketClub looks at technical strength and momentum to determine if the timing is right for GBPNGN.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_GBPNGN
Open High Low GBPNGN Price Change
1007.4704 1013.3220 1005.5714 1011.6828 +4.2124
Entry Signal

MarketClub’s Trade Triangles for GBPNGN

long term up The long-term trend has been UP since Nov 14th, 2023 at 1082.9015

intermediate term up The intermediate-term trend has been UP since Nov 14th, 2023 at 1082.9015

short term up The short-term trend has been UP since Dec 4th, 2023 at 1004.6535

Smart Scan Analysis for GBPNGN

Based on our trend formula, GBPNGN is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+70
Smart Scan Analysis for GBPNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1007.4704 1013.3220 1005.5714 1011.6828 +4.2124
Prev. Close Volume Bid Ask Time
1007.4704 2023-12-07 15:58:20
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