Forex Trend Analysis Report
Prepared for you on Thursday, May 28, 2020.
British Pound/Special drawing rights (FOREX:GBPXDR)
Bear Market Rally (-75) - GBPXDR is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on GBPXDR as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid GBPXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPXDR
The long-term trend has been DOWN since Mar 17th, 2020 at 0.9412302
The intermediate-term trend has been DOWN since May 13th, 2020 at 0.9096530
The short-term trend has been UP since May 19th, 2020 at 0.9020295
Smart Scan Analysis for GBPXDR
Based on our trend formula, GBPXDR is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).