GBP/NOK may rise 523 - 773 pips

Our pivot point stands at 14.0550.

Our preference

The upside prevails as long as 14.0550 is support.

Alternative scenario

The downside breakout of 14.0550 would call for 14.0130 and 13.9890.

Comment

The RSI is above its neutrality area at 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 14.0789 and 14.0818).

Supports and resistances

14.2220 **

14.1970 *

14.1720 **

14.1470

14.0947 last

14.0720

14.0550 **

14.0130 *

13.9890 **

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