GBP/NOK may fall 527 - 777 pips

14.0620 is our pivot point.

Our preference

Technical rebound towards 14.0620 before a new drop.

Alternative scenario

Above 14.0620, look for 14.1040 and 14.1290.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (14.0189) but under its 50 period moving average (14.0329).

Supports and resistances

14.1290 **

14.1040 *

14.0620 **

14.0460

14.0277 last

13.9750

13.9500 **

13.9250 *

13.9000 **

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