GBP/SEK may fall 378 - 558 pips

Our pivot point stands at 13.60.

Our preference

As long as 13.60 is resistance look for 13.51.

Alternative scenario

The upside breakout of 13.60, would call for 13.63 and 13.65.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands above its 20 period moving average (13.57) but below its 50 period moving average (13.57).

Supports and resistances

13.65 **

13.63 *

13.60 **

13.58

13.57 last

13.53

13.51 **

13.49 *

13.48 **

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