GBP/NOK may fall 786 - 1126 pips

14.0590 is our pivot point.

Our preference

The downside prevails as long as 14.0590 is resistance.

Alternative scenario

The upside breakout of 14.0590, would call for 14.1160 and 14.1510.

Comment

The RSI is below 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 14.0333 and 14.0600).

Supports and resistances

14.1510 **

14.1160 *

14.0590 **

14.0360

14.0116 last

13.9330

13.8990 **

13.8640 *

13.8300 **

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