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Forex Trend Analysis Report
Prepared for you on Wednesday, February 5, 2025.
British Pound/Nigerian Naira (FOREX:GBPNGN)
Countertrend Down (-85) - GBPNGN is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
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.
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MarketClub’s Trade Triangles for GBPNGN
The long-term trend has been DOWN since Dec 4th, 2024 at 2078.4910
The intermediate-term trend has been DOWN since Nov 15th, 2024 at 2110.9523
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 -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1856.1583 | 1877.8664 | 1855.1388 | 1872.1299 | +15.9716 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1856.1583 | 2025-02-05 10:48:12 |