GBP/SEK may fall 478 - 698 pips

13.81 is our pivot point.

Our preference

Under pressure below 13.81.

Alternative scenario

Above 13.81, look for 13.85 and 13.87.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 13.78 and 13.78).

Supports and resistances

13.87 **

13.85 *

13.81 **

13.80

13.78 last

13.73

13.71 **

13.69 *

13.67 **

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