GBP/SEK may rise 404 - 594 pips

Our pivot point is at 13.69.

Our preference

As long as 13.69 is support look for 13.78.

Alternative scenario

The downside breakout of 13.69 would call for 13.66 and 13.64.

Comment

The RSI is above 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 13.71 and 13.69).

Supports and resistances

13.82 **

13.80 *

13.78 **

13.76

13.72 last

13.70

13.69 **

13.66 *

13.64 **

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