Forex Trend Analysis Report
Prepared for you on Monday, May 29, 2023.
British Pound/Peruvian Nuevo Sol (FOREX:GBPPEN)
Sidelines Mode (+55) - GBPPEN 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 GBPPEN?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPPEN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPPEN
The long-term trend has been UP since May 8th, 2023 at 4.7736074
The intermediate-term trend has been DOWN since May 11th, 2023 at 4.5992821
The short-term trend has been UP since May 24th, 2023 at 4.6007628
Smart Scan Analysis for GBPPEN
Based on our trend formula, GBPPEN is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).