GBP/NOK may rise 720 - 1070 pips

13.6770 is our pivot point.

Our preference

The upside prevails as long as 13.6770 is support.

Alternative scenario

The downside breakout of 13.6770 would call for 13.6190 and 13.5850.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.7115 and 13.7251).

Supports and resistances

13.9090 **

13.8750 *

13.8410 **

13.8060

13.7340 last

13.6990

13.6770 **

13.6190 *

13.5850 **

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