GBP/SEK may rise 611 - 881 pips

Our pivot point is at 13.41.

Our preference

Our next up target stands at 13.55.

Alternative scenario

Below 13.41, expect 13.36 and 13.34.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 13.44 and 13.45). Finally, the GBP/SEK is trading above its upper Bollinger band (standing at 13.46).

Supports and resistances

13.60 **

13.57 *

13.55 **

13.52

13.46 last

13.43

13.41 **

13.36 *

13.34 **

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