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Forex Trend Analysis Report

Prepared for you on Monday, May 20, 2024.

British Pound/South African Rand (FOREX:GBPZAR)

Strong Downtrend (-100) - GBPZAR is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, GBPZAR continues to fall. Traders should use caution and set stops.

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

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

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FOREX_GBPZAR
Open High Low GBPZAR Price Change
23.063865 23.064045 23.013590 23.039670 -0.024195
Entry Signal

MarketClub’s Trade Triangles for GBPZAR

long term down The long-term trend has been DOWN since May 1st, 2024 at 23.352785

intermediate term down The intermediate-term trend has been DOWN since Apr 2nd, 2024 at 23.702565

short term down The short-term trend has been DOWN since May 17th, 2024 at 23.007720

Smart Scan Analysis for GBPZAR

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

-100
Smart Scan Analysis for GBPZAR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
23.063865 23.064045 23.013590 23.039670 -0.024195
Prev. Close Volume Bid Ask Time
23.063865 2024-05-20 02:43:50
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