Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
Special drawing rights/British Pound (FOREX:XDRGBP)
Strong Downtrend (-100) - XDRGBP is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, XDRGBP continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid XDRGBP?
MarketClub looks at technical strength and momentum to determine if the timing is right for XDRGBP.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XDRGBP
The long-term trend has been DOWN since Dec 1st, 2023 at 1.0550383
The intermediate-term trend has been DOWN since Nov 16th, 2023 at 1.0749136
The short-term trend has been DOWN since Nov 12th, 2023 at 1.0803627
Smart Scan Analysis for XDRGBP
Based on our trend formula, XDRGBP is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).