GBP/NOK may rise 675 - 1015 pips

Our pivot point stands at 13.6910.

Our preference

Our next up target stands at 13.8410.

Alternative scenario

Below 13.6910, expect 13.6350 and 13.6010.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. 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 13.7026 and 13.7095). Finally, the GBP/NOK is trading above its upper Bollinger band (standing at 13.7378).

Supports and resistances

13.9080 **

13.8740 *

13.8410 **

13.8070

13.7395 last

13.7140

13.6910 **

13.6350 *

13.6010 **

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