GBP/NOK may rise 684 - 1014 pips

Our pivot point is at 13.7910.

Our preference

Our next up target stands at 13.9410.

Alternative scenario

Below 13.7910, expect 13.7350 and 13.7010.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 13.8214 and 13.8311). Finally, the GBP/NOK is trading above its upper Bollinger band (standing at 13.8375).

Supports and resistances

14.0080 **

13.9740 *

13.9410 **

13.9080

13.8396 last

13.8130

13.7910 **

13.7350 *

13.7010 **

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