Forex Trend Analysis Report
Prepared for you on Friday, June 5, 2020.
British Pound/CFA Franc BCEAO (FOREX:GBPXOF)
Countertrend Down (-85) - GBPXOF 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 GBPXOF?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPXOF.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPXOF
The long-term trend has been DOWN since Mar 5th, 2020 at 765.5001
The intermediate-term trend has been DOWN since May 4th, 2020 at 749.6394
The short-term trend has been UP since Jun 2nd, 2020 at 734.5132
Smart Scan Analysis for GBPXOF
Based on our trend formula, GBPXOF is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).