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CurrencyShares British Pound Sterling Tr
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|It was the negative week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gave back -0.01 points, or -0.01%, and closed at 125.80 on Friday, November 09, 2018. Weekly volume was -50% below average. |
Long-term trend: [See FXB long-term trend chart]
A long-term uptrend had started on January 11, 2017 at 117.48 and reached 139.24 on April 16, 2018. FXB gained -21.76 points, or -18.52%, in 65 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See FXB medium-term trend chart]
A medium-term downtrend had started on April 16, 2018 at 139.24 and reached 122.88 on August 15, 2018. FXB lost 16.36 points, or 11.75%, in 17 weeks. The price is now at the 17.85% retracement level.
Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since September 21, 2018. The distance between MACD and the signal line is low, but getting bigger. 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 October 30, 2018 at 123.21 and reached 127.64 on November 7, 2018. FXB gained -4.43 points, or -3.60%, in 8 days. The chart has formed a Falling Channel chart pattern.
Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
A Parabolic SAR (stop and reversal) indicator (124.74) comes close to the price (125.80). 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.
During the last week, the price has declined below 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.