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Forex Trend Analysis Report

Prepared for you on Saturday, May 25, 2024.

British Pound/CFA Franc BCEAO (FOREX:GBPXOF)

Long-Term Uptrend (+90) - GBPXOF is in a strong uptrend that is likely to continue. While GBPXOF is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.

Is it time to buy, sell, or avoid GBPXOF?

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

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

FOREX_GBPXOF
Open High Low GBPXOF Price Change
769.6903 770.0698 769.6903 770.0698 +0.3795
Entry Signal

MarketClub’s Trade Triangles for GBPXOF

long term up The long-term trend has been UP since Dec 6th, 2023 at 765.0537

intermediate term up The intermediate-term trend has been UP since Apr 29th, 2024 at 767.5243

short term up The short-term trend has been UP since May 13th, 2024 at 762.8250

Smart Scan Analysis for GBPXOF

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

+90
Smart Scan Analysis for GBPXOF
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
769.6903 770.0698 769.6903 770.0698 +0.3795
Prev. Close Volume Bid Ask Time
769.6903 2024-05-24 15:47:49
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