GBP/NOK may fall 701 - 1031 pips

Our pivot point stands at 13.7780.

Our preference

The downside prevails as long as 13.7780 is resistance.

Alternative scenario

Above 13.7780, look for 13.8330 and 13.8660.

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 13.7458 and 13.7340).

Supports and resistances

13.8660 **

13.8330 *

13.7780 **

13.7560

13.7131 last

13.6430

13.6100 **

13.5770 *

13.5440 **

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