GBP/SEK may fall 567 - 837 pips

Our pivot point is at 13.51.

Our preference

Technical rebound towards 13.51 before a new drop.

Alternative scenario

The upside breakout of 13.51, would call for 13.55 and 13.58.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (13.46) but under its 50 period moving average (13.46).

Supports and resistances

13.58 **

13.55 *

13.51 **

13.49

13.46 last

13.40

13.38 **

13.35 *

13.32 **

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