Forex Trend Analysis Report
Prepared for you on Saturday, November 16, 2019.
/British Pound (FOREX:BYNGBP)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for BYNGBP
The long term trend has been DOWN since Oct 17th, 2019 at 0.38607500
The intermediate term trend has been UP since Nov 10th, 2019 at 0.38147722
The short term trend has been DOWN since Nov 12th, 2019 at 0.38039060
Smart Scan Analysis for BYNGBP
Based on a pre-defined weighted trend formula for chart analysis, BYNGBP scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).