GBP/NOK may fall 711 - 1041 pips

Our pivot point is at 13.8010.

Our preference

The downside prevails as long as 13.8010 is resistance.

Alternative scenario

The upside breakout of 13.8010, would call for 13.8570 and 13.8900.

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 13.7951 and 13.8017).

Supports and resistances

13.8900 **

13.8570 *

13.8010 **

13.7790

13.7401 last

13.6690

13.6360 **

13.6030 *

13.5700 **

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