CurrencyShares British Pound Sterling Tr
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|It was a first positive week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gained 1.82 points, or 1.35%, and closed at 136.17 on Friday, February 16, 2018. Weekly volume was -60% 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 139.08 on January 25, 2018. FXB gained -21.60 points, or -18.39%, in 54 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (130.00) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 downtrend had started on January 25, 2018 at 139.08 and reached 133.74 on February 9, 2018. FXB lost 5.34 points, or 3.84%, in 2 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 132.30 and resistance is at 137.93. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge 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 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 24, 2017. 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 February 9, 2018 at 133.74 and reached 137.00 on February 15, 2018. FXB gained -3.26 points, or -2.44%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since February 2, 2018.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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 moved above 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.