Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
/British Pound (FOREX:GELGBP)
Bear Market Rally (-75) - GELGBP is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on GELGBP as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid GELGBP?
MarketClub looks at technical strength and momentum to determine if the timing is right for GELGBP.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GELGBP
The long-term trend has been DOWN since Oct 12th, 2023 at 0.29865011
The intermediate-term trend has been DOWN since Oct 12th, 2023 at 0.30219321
The short-term trend has been UP since Dec 5th, 2023 at 0.29318805
Smart Scan Analysis for GELGBP
Based on our trend formula, GELGBP is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).