The Greedy Trader Weekly Analysis
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Currency Shares ETFs Technical Analysis

Archive
- 1/20/2023 -
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CurrencyShares British Pound Sterling Tr (FXB)

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Summary:
Weekly :Williams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overbought
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It was a fourth positive week after 3 consecutive negative weeks for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gained 1.69 points, or 1.44%, and closed at 119.25 on Friday, January 20, 2023. It was the best weekly gain since November 25, 2022. Weekly volume was -39% 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 48.81% 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 119.57 on December 14, 2022. FXB gained -17.37 points, or -17.00%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 116.24 and resistance is at 123.26. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range 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 relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 January 5, 2023 at 114.25 and reached 119.42 on January 18, 2023. FXB gained -5.17 points, or -4.53%, in 13 days. Price is near the trend high.

Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since January 11, 2023. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.97
Williams' Percentage Range (W%R) 13.50
Overbought
Lane's Stochastic (%D-Slow) 94.13
Strong Overbought
Greed/Fear Indicator (GFI) 83.19
Overbought
Moving Average Converg./Diverg. (MACD) 0.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.37
Williams' Percentage Range (W%R) 4.90
Strong Overbought
Lane's Stochastic (%D-Slow) 76.87
Greed/Fear Indicator (GFI) 77.84
Moving Average Converg./Diverg. (MACD) -1.06
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 123.26
Upper Bollinger Band 119.76
Price 119.25
Daily Stochastic Crossing 119.22
Weekly Stochastic Crossing 118.21
Parabolic System 116.90
20 Day Moving Average 116.68
Quarterly Trendline Support 116.24
50 Day Moving Average 116.03
Lower Bollinger Band 114.58
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 114.25
Low Date 01/05/2023
High 119.42
High Date 01/18/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 114.25
Low Date 01/05/2023
High 119.42
High Date 01/18/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 114.25
Low Date 01/05/2023
High 119.42
High Date 01/18/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 123.26
Support 116.24
Low 102.20
Low Date 09/28/2022
High 119.57
High Date 12/14/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 137.13
High Date 05/18/2021
Low 102.20
Low Date 09/28/2022
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.

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