GBP/NOK may rise 804 - 1144 pips

Our pivot point stands at 13.7240.

Our preference

The upside prevails as long as 13.7240 is support.

Alternative scenario

The downside breakout of 13.7240 would call for 13.6660 and 13.6320.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.7574 and 13.7367).

Supports and resistances

13.9610 **

13.9270 *

13.8920 **

13.8580

13.7776 last

13.7470

13.7240 **

13.6660 *

13.6320 **

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