Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
British Pound/ (FOREX:GBPGEL)
Sidelines Mode (+55) - GBPGEL 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 GBPGEL?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPGEL.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPGEL
The long-term trend has been UP since Oct 12th, 2023 at 3.3488492
The intermediate-term trend has been UP since Oct 12th, 2023 at 3.3098730
The short-term trend has been DOWN since Dec 5th, 2023 at 3.4112014
Smart Scan Analysis for GBPGEL
Based on our trend formula, GBPGEL is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).