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.
MarketClub’s Trade Triangles for GBPNGN
The long-term trend has been DOWN since May 12th, 2020 at 261.45900
The intermediate-term trend has been DOWN since May 12th, 2020 at 264.29628
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).