GBP/NOK may fall 674 - 954 pips

Our pivot point stands at 14.1890.

Our preference

The downside prevails as long as 14.1890 is resistance.

Alternative scenario

The upside breakout of 14.1890, would call for 14.2370 and 14.2650.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 14.1640 and 14.1973).

Supports and resistances

14.2650 **

14.2370 *

14.1890 **

14.1700

14.1494 last

14.0820

14.0540 **

14.0260 *

13.9970 **

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