GBP/NOK may rise 575 - 835 pips

14.1350 is our pivot point.

Our preference

The upside prevails as long as 14.1350 is support.

Alternative scenario

The downside breakout of 14.1350 would call for 14.0910 and 14.0650.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 14.1722 and 14.1800).

Supports and resistances

14.3160 **

14.2900 *

14.2640 **

14.2380

14.1805 last

14.1520

14.1350 **

14.0910 *

14.0650 **

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