GBP/NOK may rise 696 - 1046 pips

Our pivot point stands at 13.7860.

Our preference

Rebound.

Alternative scenario

Below 13.7860, expect 13.7280 and 13.6930.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (13.8211) but below its 50 period moving average (13.8511).

Supports and resistances

14.0070 **

13.9730 *

13.9390 **

13.9040

13.8344 last

13.8090

13.7860 **

13.7280 *

13.6930 **

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