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Forex Trend Analysis Report

Prepared for you on Sunday, June 16, 2024.

British Pound/Malaysian Ringt (FOREX:GBPMYR)

Sidelines Mode (+55) - GBPMYR 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 GBPMYR?

MarketClub looks at technical strength and momentum to determine if the timing is right for GBPMYR.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_GBPMYR
Open High Low GBPMYR Price Change
5.9848461 5.9865542 5.9848461 5.9865542 +0.0017080
Entry Signal

MarketClub’s Trade Triangles for GBPMYR

long term up The long-term trend has been UP since Mar 1st, 2023 at 5.4998820

intermediate term up The intermediate-term trend has been UP since May 22nd, 2024 at 5.9966110

short term down The short-term trend has been DOWN since Jun 14th, 2024 at 6.0044643

Smart Scan Analysis for GBPMYR

Based on our trend formula, GBPMYR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+55
Smart Scan Analysis for GBPMYR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
5.9848461 5.9865542 5.9848461 5.9865542 +0.0017080
Prev. Close Volume Bid Ask Time
5.9848461 2024-06-16 20:23:26
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