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Forex Trend Analysis Report

Prepared for you on Tuesday, April 16, 2024.

British Pound/Peruvian Nuevo Sol (FOREX:GBPPEN)

Long-Term Downtrend (-90) - GBPPEN is in a strong downtrend that is likely to continue. While GBPPEN 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 GBPPEN?

MarketClub looks at technical strength and momentum to determine if the timing is right for GBPPEN.

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FOREX_GBPPEN
Open High Low GBPPEN Price Change
4.6225076 4.6285150 4.6164259 4.6271945 +0.0046870
Entry Signal

MarketClub’s Trade Triangles for GBPPEN

long term down The long-term trend has been DOWN since Apr 4th, 2024 at 4.6638141

intermediate term down The intermediate-term trend has been DOWN since Apr 2nd, 2024 at 4.6658577

short term down The short-term trend has been DOWN since Apr 12th, 2024 at 4.6069542

Smart Scan Analysis for GBPPEN

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

-90
Smart Scan Analysis for GBPPEN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
4.6225076 4.6285150 4.6164259 4.6271945 +0.0046870
Prev. Close Volume Bid Ask Time
4.6225076 2024-04-16 04:30:02
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