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Downtrend ExhaustionArchive
- 1/17/2025 -
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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 -0.30 points, or -0.26%, and closed at 117.10 on Friday, January 17, 2025. Weekly volume was -51% 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 uptrend support line (121.67) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FXB may retest the broken support line. It is considered to be a resistance line now. 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 downtrend had started on September 26, 2024 at 129.21 and reached 116.70 on January 13, 2025. FXB lost 12.51 points, or 9.68%, in 15 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index 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 and getting bigger. It indicates that the current medium-term downtrend is strong. 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 December 9, 2024 at 123.01 and reached 116.70 on January 13, 2025. FXB lost 6.31 points, or 5.13%, in 35 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 116.62 and resistance is at 117.87. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.
 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.
The daily MACD line is below its signal line since December 18, 2024. This is an indication that the short-term trend is down.
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