GBP/NOK may rise to 14.6100 - 14.8080

Our pivot point is at 13.8950.

Our preference

The upside prevails as long as 13.8950 is support.

Alternative scenario

Below 13.8950, expect 13.5640 and 13.3670.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (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 13.7486 and 13.5983).

Supports and resistances

15.2040 **

15.0060 *

14.8080 **

14.6100

14.2107 last

14.0250

13.8950 **

13.5640 *

13.3670 **

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