GBP/NOK may rise to 14.4640 - 14.6690

Our pivot point is at 13.7300.

Our preference

The upside prevails as long as 13.7300 is support.

Alternative scenario

Below 13.7300, expect 13.3870 and 13.1830.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.5800 and 13.5508). Finally, the GBP/NOK is trading above its upper Bollinger band (standing at 14.0070).

Supports and resistances

15.0800 **

14.8750 *

14.6690 **

14.4640

14.0416 last

13.8650

13.7300 **

13.3870 *

13.1830 **

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