GBP/SEK may fall 436 - 636 pips

Our pivot point stands at 13.72.

Our preference

The downside prevails as long as 13.72 is resistance.

Alternative scenario

The upside breakout of 13.72, would call for 13.75 and 13.77.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 13.71 and 13.71).

Supports and resistances

13.77 **

13.75 *

13.72 **

13.71

13.68 last

13.64

13.62 **

13.60 *

13.58 **

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