GBP/NOK may rise 554 - 804 pips

Our pivot point stands at 14.0200.

Our preference

The upside prevails as long as 14.0200 is support.

Alternative scenario

Below 14.0200, expect 13.9790 and 13.9540.

Comment

The RSI is above 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 14.0332 and 14.0110). Finally, the GBP/NOK is trading above its upper Bollinger band (standing at 14.0616).

Supports and resistances

14.1920 **

14.1670 *

14.1430 **

14.1180

14.0626 last

14.0370

14.0200 **

13.9790 *

13.9540 **

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