GBP/NOK may fall to 12.9800 - 13.2170

14.0500 is our pivot point.

Our preference

The downside prevails as long as 14.0500 is resistance.

Alternative scenario

The upside breakout of 14.0500, would call for 14.4490 and 14.6860.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 13.9247 and 13.7627).

Supports and resistances

14.6860 **

14.4490 *

14.0500 **

13.8940

13.7177 last

13.2170

12.9800 **

12.7440 *

12.5080 **

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