The Greedy Trader Weekly Analysis
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- 5/31/2024 -
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CurrencyShares British Pound Sterling Tr (FXB) Technical Analysis

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Summary:
Weekly :Broken trend support lineWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal lineA Parabolic SAR indicator is above and near the priceTrend support at 122.76
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It was a third consecutive positive week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB climbed 0.14 points, or 0.11%, and closed at 122.74 on Friday, May 31, 2024. Weekly volume was -60% below average.

Long-term trend: [See FXB long-term trend chart]
A long-term uptrend had started on September 28, 2022 at 102.20 and reached 126.35 on July 13, 2023. FXB gained -24.15 points, or -23.63%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (124.92) 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 long-term trend.

Medium-term trend: [See FXB medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 115.94 and reached 123.85 on March 8, 2024. FXB gained -7.91 points, or -6.82%, in 22 weeks. The price is now at the 14.03% retracement level.

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 April 22, 2024 at 118.38 and reached 123.22 on May 28, 2024. FXB gained -4.84 points, or -4.09%, in 36 days. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (122.76) 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 short-term trend.

Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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 April 24, 2024. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (122.42) comes close to the price (122.74). 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.16
Williams' Percentage Range (W%R) 15.60
Overbought
Lane's Stochastic (%D-Slow) 65.12
Greed/Fear Indicator (GFI) 75.88
Moving Average Converg./Diverg. (MACD) 0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.26
Williams' Percentage Range (W%R) 20.50
Lane's Stochastic (%D-Slow) 61.60
Greed/Fear Indicator (GFI) 63.94
Moving Average Converg./Diverg. (MACD) 0.18
Trading Signals
Description Value Chart
Yearly Trendline Support 124.92
Upper Bollinger Band 123.71
Weekly Trendline Resistance 123.40
Yearly Trendline Resistance 122.97
Weekly Trendline Support 122.76
Price 122.74
Daily Stochastic Crossing 122.74
Parabolic System 122.42
Weekly Stochastic Crossing 121.65
20 Day Moving Average 121.64
50 Day Moving Average 121.04
Lower Bollinger Band 119.94
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 119.84
Low Date 05/02/2024
High 123.22
High Date 05/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 123.40
Support 122.76
Low 118.38
Low Date 04/22/2024
High 123.22
High Date 05/28/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 123.85
High Date 03/08/2024
Low 118.38
Low Date 04/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 115.94
Low Date 10/03/2023
High 123.85
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 122.97
Support 124.92
Low 102.20
Low Date 09/28/2022
High 126.35
High Date 07/13/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.