GBP/SEK may fall 467 - 677 pips

Our pivot point stands at 13.58.

Our preference

Under pressure below 13.58.

Alternative scenario

Above 13.58, look for 13.62 and 13.64.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 13.55 and 13.55). Finally, the GBP/SEK is trading below its lower Bollinger band (standing at 13.54).

Supports and resistances

13.64 **

13.62 *

13.58 **

13.57

13.54 last

13.49

13.47 **

13.45 *

13.43 **

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