What’s Next for ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD After Reaching All-Time Low?

 What's Next for ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD After Reaching All Time Low?

The stock of ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD (LON:LGB3) reached all time low today, Nov, 3 and still has GBX 16.34 target or 11.00% below today’s GBX 18.36 share price. This indicates more downside for the GBX company. This technical setup was reported by Barchart.com. If the GBX 16.34 PT is reached, the company will be worth GBX less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The ETF increased 4.30% or GBX 0.76 on November 3, hitting GBX 18.36. About 32,691 shares traded hands or 231.35% up from the average. ETFS FOREIGN EXCHANGE LIMITED ETFS 3X LONG GBP SHORT USD (LON:LGB3) has declined 39.85% since March 24, 2016 and is downtrending. It has underperformed by 41.07% the S&P500.

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