Forex Trend Analysis Report
Prepared for you on Thursday, May 6, 2021.
British Pound/Bulgarian Lev (FOREX:GBPBGN)
Sidelines Mode (-55) - GBPBGN is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid GBPBGN?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPBGN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPBGN
The long-term trend has been UP since Jan 14th, 2021 at 2.2037823
The intermediate-term trend has been DOWN since Apr 7th, 2021 at 2.2640636
The short-term trend has been UP since Apr 18th, 2021 at 2.2590668
Smart Scan Analysis for GBPBGN
Based on our trend formula, GBPBGN is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).