GBP/NOK may fall to 13.3960 - 13.5670

Our pivot point is at 14.2040.

Our preference

Under pressure below 14.2040.

Alternative scenario

Above 14.2040, look for 14.4910 and 14.6630.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 14.0115 and 13.9408).

Supports and resistances

14.6630 **

14.4910 *

14.2040 **

14.0910

13.9379 last

13.5670

13.3960 **

13.2260 *

13.0550 **

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