GBP/NOK may rise 534 - 804 pips

14.0730 is our pivot point.

Our preference

As long as 14.0730 is support look for 14.1910.

Alternative scenario

The downside breakout of 14.0730 would call for 14.0280 and 14.0010.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 14.0973 and 14.0607).

Supports and resistances

14.2440 **

14.2170 *

14.1910 **

14.1640

14.1106 last

14.0900

14.0730 **

14.0280 *

14.0010 **

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