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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.

FOREX_GBPNGN
Open High Low GBPNGN Price Change
496.67950 505.68849 493.15480 493.88438 -2.79512
Entry Signal

MarketClub’s Trade Triangles for GBPNGN

long term up The long-term trend has been UP since Jun 5th, 2020 at 492.72015

intermediate term up The intermediate-term trend has been UP since Jul 9th, 2020 at 490.02863

short term up 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).

+70
Smart Scan Analysis for GBPNGN
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
496.67950 505.68849 493.15480 493.88438 -2.79512
Prev. Close Volume Bid Ask Time
496.67950 493.86732 493.90143 2020-08-07 11:10:59
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