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Forex Trend Analysis Report

Prepared for you on Thursday, February 6, 2025.

British Pound/Nigerian Naira (FOREX:GBPNGN)

Bear Market Rally (-75) - GBPNGN is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on GBPNGN as it may be in the beginning of a reversal.

Is it time to buy, sell, or avoid GBPNGN?

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

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

FOREX_GBPNGN
Open High Low GBPNGN Price Change
1871.7089 1872.0387 1858.3996 1865.8040 -5.9049
Entry Signal

MarketClub’s Trade Triangles for GBPNGN

long term down The long-term trend has been DOWN since Dec 4th, 2024 at 2078.4910

intermediate term down The intermediate-term trend has been DOWN since Nov 15th, 2024 at 2110.9523

short term up The short-term trend has been UP since Feb 5th, 2025 at 1863.5901

Smart Scan Analysis for GBPNGN

Based on our trend formula, GBPNGN is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-75
Smart Scan Analysis for GBPNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1871.7089 1872.0387 1858.3996 1865.8040 -5.9049
Prev. Close Volume Bid Ask Time
1871.7089 2025-02-06 14:05:42
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