GBP/NOK may fall to 13.0930 - 13.3230

Our pivot point stands at 14.1300.

Our preference

Target 13.0930.

Alternative scenario

The upside breakout of 14.1300, would call for 14.5180 and 14.7490.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (14.0043) but above its 50 period moving average (13.7433).

Supports and resistances

14.7490 **

14.5180 *

14.1300 **

13.9780

13.8074 last

13.3230

13.0930 **

12.8620 *

12.6320 **

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