GBP/NOK may rise 825 - 1165 pips

Our pivot point is at 13.7700.

Our preference

As long as 13.7700 is support look for 13.9330.

Alternative scenario

Below 13.7700, expect 13.7130 and 13.6790.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.8159 and 13.8069).

Supports and resistances

14.0000 **

13.9670 *

13.9330 **

13.8990

13.8165 last

13.7920

13.7700 **

13.7130 *

13.6790 **

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