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Archive
- 12/13/2024 -
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CurrencyShares British Pound Sterling Tr (FXB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gave back -1.14 points, or -0.93%, and closed at 121.30 on Friday, December 13, 2024. Weekly volume was -87% below average.
 Long-term trend: [See FXB long-term trend chart]
A long-term uptrend had started on October 3, 2023 at 115.94 and reached 129.21 on September 26, 2024. FXB gained -13.27 points, or -11.45%, in 51 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (121.28) 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 long-term trend.
 Medium-term trend: [See FXB medium-term trend chart]
A medium-term downtrend had started on September 26, 2024 at 129.21 and reached 120.40 on November 22, 2024. FXB lost 8.81 points, or 6.82%, in 8 weeks. The price is now at the 10.22% retracement level.
 Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 22, 2024 at 120.40 and reached 123.01 on December 9, 2024. FXB gained -2.61 points, or -2.17%, in 17 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (122.95) 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 short-term trend.
 Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since November 27, 2024. 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.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 lower 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.
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