Forex Trend Analysis Report
Prepared for you on Tuesday, June 2, 2020.
British Pound/CFA Franc BCEAO (FOREX:GBPXOF)
Long-Term Downtrend (-90) - GBPXOF is in a strong downtrend that is likely to continue. While GBPXOF 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 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.
MarketClub’s Trade Triangles for GBPXOF
The long-term trend has been DOWN since Mar 5th, 2020 at 765.5001
The intermediate-term trend has been DOWN since May 4th, 2020 at 749.6394
The short-term trend has been DOWN since May 8th, 2020 at 749.1728
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).