GBP/NOK may rise 567 - 827 pips

Our pivot point stands at 13.7990.

Our preference

Look for a drop towards 13.7990 before a bounce.

Alternative scenario

Below 13.7990, expect 13.7570 and 13.7310.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 13.8413 and 13.8419).

Supports and resistances

13.9730 **

13.9480 *

13.9230 **

13.8970

13.8403 last

13.8160

13.7990 **

13.7570 *

13.7310 **

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