GBP/NOK may fall 676 - 996 pips

Our pivot point is at 14.0860.

Our preference

The downside prevails as long as 14.0860 is resistance.

Alternative scenario

The upside breakout of 14.0860, would call for 14.1400 and 14.1720.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 14.0531 and 14.0762).

Supports and resistances

14.1720 **

14.1400 *

14.0860 **

14.0650

14.0336 last

13.9660

13.9340 **

13.9020 *

13.8700 **

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