Forex Trend Analysis Report
Prepared for you on Tuesday, March 21, 2023.
Nigerian Naira/British Pound (FOREX:NGNGBP)
Long-Term Downtrend (-90) - NGNGBP is in a strong downtrend that is likely to continue. While NGNGBP 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 NGNGBP?
MarketClub looks at technical strength and momentum to determine if the timing is right for NGNGBP.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for NGNGBP
The long-term trend has been DOWN since Nov 10th, 2022 at 0.00193891
The intermediate-term trend has been DOWN since Mar 13th, 2023 at 0.00178827
The short-term trend has been DOWN since Mar 19th, 2023 at 0.00178204
Smart Scan Analysis for NGNGBP
Based on our trend formula, NGNGBP is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).