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Forex Trend Analysis Report

Prepared for you on Sunday, May 31, 2020.

British Pound/Nigerian Naira (FOREX:GBPNGN)

Long-Term Downtrend (-90) - GBPNGN is in a strong downtrend that is likely to continue. While GBPNGN is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.

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
478.31062 478.75625 444.89305 447.27055 -31.04007
Entry Signal

MarketClub’s Trade Triangles for GBPNGN

long term down The long-term trend has been DOWN since May 12th, 2020 at 261.45900

intermediate term down The intermediate-term trend has been DOWN since May 12th, 2020 at 264.29628

short term down The short-term trend has been DOWN since May 27th, 2020 at 475.01592

Smart Scan Analysis for GBPNGN

Based on our trend formula, GBPNGN is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for GBPNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
478.31062 478.75625 444.89305 447.27055 -31.04007
Prev. Close Volume Bid Ask Time
478.31062 447.23991 447.30119 2020-05-31 23:03:06
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