GBP/NOK may fall 687 - 1027 pips

Our pivot point stands at 13.8100.

Our preference

The downside prevails as long as 13.8100 is resistance.

Alternative scenario

The upside breakout of 13.8100, would call for 13.8670 and 13.9010.

Comment

The RSI is below its neutrality area at 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 13.7769 and 13.7913).

Supports and resistances

13.9010 **

13.8670 *

13.8100 **

13.7880

13.7587 last

13.6900

13.6560 **

13.6220 *

13.5890 **

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