Forex Trend Analysis Report
Prepared for you on Sunday, October 17, 2021.
British Pound/CFA Franc BCEAO (FOREX:GBPXOF)
Countertrend Up (+85) - GBPXOF is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score 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.
MarketClub’s Trade Triangles for GBPXOF
The long-term trend has been UP since Nov 10th, 2020 at 733.0644
The intermediate-term trend has been UP since Sep 14th, 2021 at 769.2345
The short-term trend has been UP since Sep 27th, 2021 at 767.0666
Smart Scan Analysis for GBPXOF
Based on our trend formula, GBPXOF is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).