GBP/NOK may rise 511 - 761 pips

13.4500 is our pivot point.

Our preference

The upside prevails as long as 13.4500 is support.

Alternative scenario

Below 13.4500, expect 13.4080 and 13.3830.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.4778 and 13.4757).

Supports and resistances

13.6130 **

13.5880 *

13.5630 **

13.5380

13.4869 last

13.4660

13.4500 **

13.4080 *

13.3830 **

Number of asterisks represents the strength of support and resistance levels.