GBP/NOK may rise 429 - 649 pips

Our pivot point stands at 13.5780.

Our preference

The upside prevails as long as 13.5780 is support.

Alternative scenario

The downside breakout of 13.5780 would call for 13.5420 and 13.5210.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 13.5681 and 13.5609).

Supports and resistances

13.7150 **

13.6940 *

13.6730 **

13.6510

13.6081 last

13.5920

13.5780 **

13.5420 *

13.5210 **

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