GBP/NOK may rise 878 - 1198 pips

Our pivot point is at 13.8640.

Our preference

The upside prevails as long as 13.8640 is support.

Alternative scenario

Below 13.8640, expect 13.8110 and 13.7790.

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 both its 20 and 50 period moving average (respectively at 13.8752 and 13.8811).

Supports and resistances

14.0900 **

14.0580 *

14.0260 **

13.9940

13.9062 last

13.8850

13.8640 **

13.8110 *

13.7790 **

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