Forex Trend Analysis Report
Prepared for you on Thursday, August 6, 2020.
US Dollar/British Pound (FOREX:USDGBP)
Long-Term Downtrend (-90) - USDGBP is in a strong downtrend that is likely to continue. While USDGBP is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid USDGBP?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDGBP.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDGBP
The long-term trend has been DOWN since Jul 26th, 2020 at 0.780455
The intermediate-term trend has been DOWN since Jul 12th, 2020 at 0.789320
The short-term trend has been DOWN since Aug 5th, 2020 at 0.762745
Smart Scan Analysis for USDGBP
Based on our trend formula, USDGBP is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).