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Aug 02, 2018

Bank of England Hikes Interest Rate

The Bank of England raised its benchmark interest rate to its highest level since 2009.

Hiking the rate to 0.75% from 0.5%, U.K.’s central bank hinted at inflation concerns. However, uncertainties remain over how smooth or difficult Brexit and its economic/financial outcome would actually turn out to be – something that might affect the pace of further monetary tightening in the nation. The central bank said in a statement on Thursday that "any future increases in Bank Rate are likely to be at a gradual pace and to a limited extent."

Related Ticker: FXB

FXB in upward trend: 10-day moving average moved above 50-day moving average on February 29, 2024

The 10-day moving average for FXB crossed bullishly above the 50-day moving average on February 29, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 13 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 5 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where FXB advanced for three days, in of 312 cases, the price rose further within the following month. The odds of a continued upward trend are .

FXB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.

The Aroon Indicator entered an Uptrend today. In of 227 cases where FXB Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The 10-day RSI Indicator for FXB moved out of overbought territory on March 12, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 31 similar instances where the indicator moved out of overbought territory. In of the 31 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Momentum Indicator moved below the 0 level on March 21, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on FXB as a result. In of 92 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .

The Moving Average Convergence Divergence Histogram (MACD) for FXB turned negative on March 19, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 46 similar instances when the indicator turned negative. In of the 46 cases the stock turned lower in the days that followed. This puts the odds of success at .

FXB moved below its 50-day moving average on March 28, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where FXB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

Fundamental Analysis (Ratings)

Fear & Greed

Industry description

The investment seeks to reflect the price in USD of the British Pound Sterling. The shares are intended to provide institutional and retail investors with a simple, cost-effective means of gaining investment benefits similar to those of holding British Pounds Sterling.
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