CurrencyShares British Pound Sterling Tr
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|It was a fourth positive week after 6 consecutive negative weeks for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB climbed 1.02 points, or 0.83%, and closed at 124.58 on Friday, January 11, 2019. It was the best weekly gain since November 2, 2018. FXB was trading at average weekly trading volume. |
Long-term trend: [See FXB long-term trend chart]
A long-term downtrend had started on April 16, 2018 at 139.24 and reached 121.10 on December 11, 2018. FXB lost 18.14 points, or 13.03%, in 34 weeks. The price is now at the 19.18% retracement level.
Medium-term trend: [See FXB medium-term trend chart]
A medium-term uptrend had started on December 11, 2018 at 121.10 and reached 124.78 on January 11, 2019. FXB gained -3.68 points, or -3.04%, in 4 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (123.86) 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 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 above oversold area. Such crossover is considered a bullish 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 below its signal line since November 23, 2018. The distance between MACD and the signal line is low and getting smaller. 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 January 10, 2019 at 123.59 and reached 124.78 on January 11, 2019. FXB gained -1.19 points, or -0.96%, in 1 days. The price is now at the 16.81% retracement level.
Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since December 19, 2018. This is an indication that the short-term trend is up.
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.
The price touches the upper Bollinger Band. 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.