GBP/NOK may fall to 12.7570 - 12.9590

Our pivot point stands at 13.6740.

Our preference

The downside prevails as long as 13.6740 is resistance.

Alternative scenario

The upside breakout of 13.6740, would call for 14.0160 and 14.2190.

Comment

The RSI is below its neutrality area at 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 13.6217 and 13.5732).

Supports and resistances

14.2190 **

14.0160 *

13.6740 **

13.5400

13.4018 last

12.9590

12.7570 **

12.5540 *

12.3510 **

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