Forex Trend Analysis Report
Prepared for you on Saturday, October 23, 2021.
British Pound/Nigerian Naira (FOREX:GBPNGN)
Sidelines Mode (-55) - GBPNGN is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement 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 Oct 18th, 2021 at 566.90643
The short-term trend has been DOWN since Oct 22nd, 2021 at 564.80981
Smart Scan Analysis for GBPNGN
Based on our trend formula, GBPNGN is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).