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Forex Trend Analysis Report

Prepared for you on Wednesday, April 17, 2024.

British Pound/US Dollar (FOREX:GBPUSD)

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

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

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_GBPUSD
Open High Low GBPUSD Price Change
1.243035 1.248230 1.241710 1.245585 +0.002550
Entry Signal

MarketClub’s Trade Triangles for GBPUSD

long term down The long-term trend has been DOWN since Apr 11th, 2024 at 1.251865

intermediate term down The intermediate-term trend has been DOWN since Mar 27th, 2024 at 1.264985

short term down The short-term trend has been DOWN since Apr 10th, 2024 at 1.261370

Smart Scan Analysis for GBPUSD

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

-90
Smart Scan Analysis for GBPUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.243035 1.248230 1.241710 1.245585 +0.002550
Prev. Close Volume Bid Ask Time
1.243035 2024-04-17 17:58:10
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