GBP/NOK may rise 681 - 1011 pips

Our pivot point is at 13.7600.

Our preference

As long as 13.7600 is support look for 13.9300.

Alternative scenario

Below 13.7600, expect 13.7040 and 13.6710.

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 13.8133 and 13.7881). Finally, the GBP/NOK is trading above its upper Bollinger band (standing at 13.8255).

Supports and resistances

13.9970 **

13.9630 *

13.9300 **

13.8970

13.8289 last

13.7820

13.7600 **

13.7040 *

13.6710 **

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