GBP/NOK may fall 519 - 789 pips

Our pivot point stands at 14.1720.

Our preference

The downside prevails as long as 14.1720 is resistance.

Alternative scenario

The upside breakout of 14.1720, would call for 14.2160 and 14.2430.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 14.1375 and 14.1368).

Supports and resistances

14.2430 **

14.2160 *

14.1720 **

14.1550

14.1349 last

14.0830

14.0560 **

14.0300 *

14.0040 **

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