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.
MarketClub’s Trade Triangles for GBPNGN
The long-term trend has been UP since Nov 14th, 2023 at 1082.9015
The intermediate-term trend has been UP since Nov 14th, 2023 at 1082.9015
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).