GBP/NOK may rise 519 - 779 pips

Our pivot point is at 13.9840.

Our preference

Rebound.

Alternative scenario

Below 13.9840, expect 13.9410 and 13.9150.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (14.0297) but under its 50 period moving average (14.0583).

Supports and resistances

14.1700 **

14.1440 *

14.1180 **

14.0920

14.0401 last

14.0020

13.9840 **

13.9410 *

13.9150 **

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