Free British Pound/Nigerian Naira (GBPNGN) Technical Analysis Signals

On 01 Oct, we conducted a comprehensive technical analysis of British Pound/Nigerian Naira (GBPNGN), considering 99 signals with intricate details. Here are the key findings: 7 signals suggested buy strategies, while 8 indicated sell strategies. The remaining 84 signals remained neutral without offering a specific direction.

KAMA 2KAMA 3KAMA 4WMA Crossover 1TEMA Price 2TRIMA Slope 2TRIMA Slope 3SAR CrossoverCCI Crossover 1PLUS_DI Threshold 1PLUS_DI Threshold 2WILLR Exit OversoldWILLR Exit OverboughtMACD Crossover 1ADXR with DI+/DI-

Doji Long Legged Doji Long Line Candle Rickshaw Man Tristar Pattern

Overall Strategy:
Buy Signals: 7
Sell Signals: 8
Neutral Signals: 84
Result: This strategy leads to a Neutral position.

Disclaimer! Please exercise caution and thorough consideration before making any financial decisions. It's important to note that our signals are based solely on daily price changes and do not take into account external factors such as news, market sentiment, or company developments. We strongly recommend considering all relevant factors and conducting your own research.

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Second Support Level: 1694.945
If the first support level is breached, the second support level at 1694.945 becomes a critical point. Breaking this level would indicate stronger downward momentum, likely driven by market sentiment or external factors.

Third Support Level: 1324.248
If the second support level is broken and the price continues to fall, it signals a significant market shift. Remaining below 1324.248 would confirm a persistent downward trend, with traders likely targeting this third level as the next key support point.
These support levels should be considered carefully in the context of broader market trends and indicators. Staying alert and consistently analyzing the market will allow you to make informed decisions while trading British Pound/Nigerian Naira (GBPNGN). Paying attention to these support levels will help you adapt to the dynamic nature of the market and make smarter trading choices. Second Resistance Level: 2240.368
If the upward trend continues with significant strength, we may see British Pound/Nigerian Naira (GBPNGN) cross the second resistance level at 2240.368. This would indicate a major upside move and a promising direction for our position.

It's crucial to closely monitor these resistance levels and consider them in the context of broader market trends and indicators. To make informed decisions when trading British Pound/Nigerian Naira (GBPNGN), stay vigilant and continuously analyze the market. Focusing on these resistance levels, along with broader market dynamics, will help you make smarter trading decisions and adapt to the changing market conditions.