Forex Trend Analysis Report
Prepared for you on Thursday, May 6, 2021.
British Pound/CFA Franc BCEAO (FOREX:GBPXOF)
Crossroads (-60) - GBPXOF is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
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 DOWN since Apr 7th, 2021 at 761.5806
The short-term trend has been DOWN since Apr 6th, 2021 at 771.0021
Smart Scan Analysis for GBPXOF
Based on our trend formula, GBPXOF is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).