GBP/SEK may rise 348 - 528 pips

Our pivot point stands at 13.63.

Our preference

Our next up target stands at 13.72.

Alternative scenario

The downside breakout of 13.63 would call for 13.60 and 13.58.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.65 and 13.66). Finally, the GBP/SEK is trading above its upper Bollinger band (standing at 13.66).

Supports and resistances

13.75 **

13.74 *

13.72 **

13.70

13.67 last

13.64

13.63 **

13.60 *

13.58 **

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