Currency Shares ETFs Technical AnalysisArchive
- 5/19/2023 -
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CurrencyShares British Pound Sterling Tr (FXB)
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|It was a first positive week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB climbed 0.05 points, or 0.04%, and closed at 119.77 on Friday, May 19, 2023. Weekly volume was -72% 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 50.30% 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 9.99% retracement level.
Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 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 119.21 on May 18, 2023. FXB lost 2.51 points, or 2.06%, in 10 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 10, 2023. This is an indication that the short-term trend is down.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 2.1% on Friday. It is 57.39% lower than one year average. It indicates the period of low volatility of the stock price. 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.
Price is close to the 50 Day Moving Average. 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.