Forex Trend Analysis Report
Prepared for you on Friday, August 7, 2020.
British Pound/Nigerian Naira (FOREX:GBPNGN)
Bull Market Weakness (+75) - GBPNGN is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on GBPNGN as it may be in the beginning stages 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.
MarketClub’s Trade Triangles for GBPNGN
The long-term trend has been UP since Jun 5th, 2020 at 492.72015
The intermediate-term trend has been UP since Jul 9th, 2020 at 490.02863
The short-term trend has been UP since Aug 5th, 2020 at 506.17641
Smart Scan Analysis for GBPNGN
Based on our trend formula, GBPNGN is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).