The Greedy Trader Weekly Analysis
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Currency Shares ETFs Technical Analysis

Archive
- 9/10/2021 -
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CurrencyShares British Pound Sterling Tr (FXB)

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Summary:
Weekly :Broken trend support lineTrend resistance at 133.35
Daily :Williams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaA Parabolic SAR indicator is above and near the pricePrice is close to the 50 Day Moving AverageTrend support at 133.18The price is close to the moving average in the center of the Bollinger Bands
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It was the negative week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gave back -0.32 points, or -0.24%, and closed at 133.28 on Friday, September 10, 2021. Weekly volume was -81% below average.

Long-term trend: [See FXB long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 110.96 and reached 137.13 on May 18, 2021. FXB gained -26.17 points, or -23.59%, in 60 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (142.34) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See FXB medium-term trend chart]
A medium-term downtrend had started on May 18, 2021 at 137.13 and reached 131.07 on July 20, 2021. FXB lost 6.06 points, or 4.42%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (133.35). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since June 4, 2021. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See FXB short-term trend chart]
A short-term uptrend had started on August 20, 2021 at 131.26 and reached 133.81 on September 3, 2021. FXB gained -2.55 points, or -1.94%, in 14 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (133.18) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is above its signal line since August 30, 2021. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (133.06) comes close to the price (133.28). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price is close to the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.72
Williams' Percentage Range (W%R) 6.70
Strong Overbought
Lane's Stochastic (%D-Slow) 56.12
Greed/Fear Indicator (GFI) 72.06
Moving Average Converg./Diverg. (MACD) -0.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.44
Williams' Percentage Range (W%R) 57.60
Lane's Stochastic (%D-Slow) 39.90
Greed/Fear Indicator (GFI) 43.05
Moving Average Converg./Diverg. (MACD) 0.56
Trading Signals
Description Value Chart
Quarterly Trendline Support 142.34
Quarterly Trendline Resistance 141.30
Weekly Trendline Resistance 134.50
Upper Bollinger Band 134.16
Monthly Trendline Resistance 133.35
Price 133.28
Weekly Trendline Support 133.18
Daily Stochastic Crossing 133.11
50 Day Moving Average 133.06
Parabolic System 133.06
20 Day Moving Average 132.65
Weekly Stochastic Crossing 132.53
Lower Bollinger Band 131.63
Monthly Trendline Support 131.38
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 132.74
Low Date 09/07/2021
High 133.66
High Date 09/10/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 134.50
Support 133.18
Low 131.26
Low Date 08/20/2021
High 133.81
High Date 09/03/2021
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 133.35
Support 131.38
High 137.13
High Date 05/18/2021
Low 131.07
Low Date 07/20/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 141.30
Support 142.34
Low 110.96
Low Date 03/23/2020
High 137.13
High Date 05/18/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 117.48
Low Date 01/11/2017
High 139.24
High Date 04/16/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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