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Forex Trend Analysis Report

Prepared for you on Tuesday, June 18, 2024.

Special drawing rights/British Pound (FOREX:XDRGBP)

Bear Market Rally (-75) - XDRGBP is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on XDRGBP as it may be in the beginning of a reversal.

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.

FOREX_XDRGBP
Open High Low XDRGBP Price Change
1.0385422 1.0409410 1.0385422 1.0407992 +0.0022570
Entry Signal

MarketClub’s Trade Triangles for XDRGBP

long term down The long-term trend has been DOWN since May 20th, 2024 at 1.0406296

intermediate term down The intermediate-term trend has been DOWN since Jun 13th, 2024 at 1.0294421

short term down The short-term trend has been DOWN since Jun 13th, 2024 at 1.0294421

Smart Scan Analysis for XDRGBP

Based on our trend formula, XDRGBP is rated as a -80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-80
Smart Scan Analysis for XDRGBP
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.0385422 1.0409410 1.0385422 1.0407992 +0.0022570
Prev. Close Volume Bid Ask Time
1.0381930 2024-06-16 21:00:28
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