Forex Trend Analysis Report
Prepared for you on Saturday, August 13, 2022.
British Pound/Nigerian Naira (FOREX:GBPNGN)
Crossroads (+60) - GBPNGN is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
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.
MarketClub’s Trade Triangles for GBPNGN
The long-term trend has been DOWN since Sep 28th, 2021 at 557.42821
The intermediate-term trend has been UP since Jul 25th, 2022 at 511.53610
The short-term trend has been UP since Aug 8th, 2022 at 508.12220
Smart Scan Analysis for GBPNGN
Based on our trend formula, GBPNGN is rated as a +60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).