GBP/SEK may rise 538 - 798 pips

Our pivot point is at 13.49.

Our preference

Rebound.

Alternative scenario

Below 13.49, expect 13.44 and 13.42.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (13.51) but under its 50 period moving average (13.53). Finally, the GBP/SEK is trading above its upper Bollinger band (standing at 13.52).

Supports and resistances

13.66 **

13.63 *

13.60 **

13.58

13.52 last

13.50

13.49 **

13.44 *

13.42 **

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