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CurrencyShares British Pound Sterling Tr
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|It was a fourth positive week after 3 consecutive negative weeks for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gained 1.36 points, or 1.05%, and closed at 130.96 on Friday, December 01, 2017. It was the best weekly gain since October 13, 2017. Weekly volume was 198% above average. |
Long-term trend: [See FXB long-term trend chart]
A long-term downtrend had started on July 15, 2014 at 169.06 and reached 117.48 on January 11, 2017. FXB lost 51.58 points, or 30.51%, in 130 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (105.63) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. FXB may retest the broken resistance line. It is considered to be a support line now. 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 resistance line in a long-term trend.
Medium-term trend: [See FXB medium-term trend chart]
A medium-term uptrend had started on January 11, 2017 at 117.48 and reached 132.65 on September 20, 2017. FXB gained -15.17 points, or -12.91%, in 36 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 127.45 and resistance is at 132.99. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 November 2, 2017 at 126.88 and reached 131.72 on November 30, 2017. FXB gained -4.84 points, or -3.81%, in 28 days. The chart has formed a Rising Channel chart pattern.
Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 November 13, 2017. This is an indication that the short-term trend is up.