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Archive
- 5/26/2023 -
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CurrencyShares British Pound Sterling Tr (FXB) |
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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 -0.90 points, or -0.75%, and closed at 118.87 on Friday, May 26, 2023. Weekly volume was -49% below average.
 Long-term trend: [See FXB long-term trend chart]
A long-term downtrend had started on May 18, 2021 at 137.13 and reached 102.20 on September 28, 2022. FXB lost 34.93 points, or 25.47%, in 71 weeks. The price is now at the 47.72% retracement level.
 Medium-term trend: [See FXB medium-term trend chart]
A medium-term uptrend had started on September 28, 2022 at 102.20 and reached 121.72 on May 8, 2023. FXB gained -19.52 points, or -19.10%, in 31 weeks. The price is now at the 14.60% retracement level.
 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 October 21, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See FXB short-term trend chart]
A short-term downtrend had started on May 8, 2023 at 121.72 and reached 118.46 on May 25, 2023. FXB lost 3.26 points, or 2.68%, in 17 days. The price is now at the 12.58% retracement level.
 Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since May 10, 2023. This is an indication that the short-term trend is down.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.
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