DAILY CHART OF GBPNGN

8 Apr

The naira has been appreciating against the pound, dollar, and euro. The chart here shows the daily chart for the pound/naira.

I expect the price to touch this key level for support progressively.
1512
1291
1132

With the Muslim fasting ending this week, we might see an unusual volume coming into the
market. The first month after the fasting is crucial; watch out for the price action and volume.

There is also a decrease in price velocity, unlike in the first week when we saw six weeks of gains lost.
Last week's price movement was quiet, and we showed signs of caution.

Assume the government policy created is working now we expect continuation of trend.