GBP/NOK may rise 528 - 778 pips

Our pivot point is at 13.9780.

Our preference

Rebound towards 14.0970.

Alternative scenario

The downside breakout of 13.9780 would call for 13.9370 and 13.9120.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (14.0181) but below its 50 period moving average (14.0496).

Supports and resistances

14.1470 **

14.1220 *

14.0970 **

14.0720

14.0192 last

13.9950

13.9780 **

13.9370 *

13.9120 **

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