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Currency Shares ETFs Technical Analysis - FXBArchive
- 11/8/2024 -
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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 a first positive week after 5 consecutive negative weeks for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB climbed 0.10 points, or 0.08%, and closed at 124.20 on Friday, November 8, 2024. It was the best weekly gain since September 27, 2024. Weekly volume was -66% below average.
 Long-term trend: [See FXB long-term trend chart]
A long-term uptrend had started on April 22, 2024 at 118.38 and reached 129.21 on September 26, 2024. FXB gained -10.83 points, or -9.15%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (128.57) 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 downtrend had started on September 26, 2024 at 129.21 and reached 123.30 on November 6, 2024. FXB lost 5.91 points, or 4.57%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 123.15 and resistance is at 125.03. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. 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 November 7, 2024 at 124.90 and reached 124.00 on November 8, 2024. FXB lost 0.90 points, or 0.72%, in 1 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
A Parabolic SAR (stop and reversal) indicator (125.08) comes close to the price (124.20). 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.
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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