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Forex Trend Analysis Report

Prepared for you on Thursday, April 18, 2024.

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.

FOREX_GBPNGN
Open High Low GBPNGN Price Change
1446.9978 1448.9592 1424.5358 1430.7058 -16.2920
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 down The intermediate-term trend has been DOWN since Mar 13th, 2024 at 1878.0971

short term down The short-term trend has been DOWN since Apr 5th, 2024 at 1583.1283

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).

-60
Smart Scan Analysis for GBPNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1446.9978 1448.9592 1424.5358 1430.7058 -16.2920
Prev. Close Volume Bid Ask Time
1446.9978 2024-04-18 16:58:06
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