Forex Trend Analysis Report
Prepared for you on Thursday, December 3, 2020.
Special drawing rights/British Pound (FOREX:XDRGBP)
Countertrend Down (-85) - XDRGBP is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score 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 Jun 5th, 2020 at 1.0925637
The intermediate-term trend has been DOWN since Nov 5th, 2020 at 1.0831176
The short-term trend has been UP since Dec 2nd, 2020 at 1.0697370
Smart Scan Analysis for XDRGBP
Based on our trend formula, XDRGBP is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).