GBP/NOK may rise 568 - 818 pips

Our pivot point is at 13.9020.

Our preference

As long as 13.9020 is support look for 14.0210.

Alternative scenario

The downside breakout of 13.9020 would call for 13.8610 and 13.8360.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 13.9377 and 13.9227).

Supports and resistances

14.0700 **

14.0460 *

14.0210 **

13.9960

13.9392 last

13.9180

13.9020 **

13.8610 *

13.8360 **

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