GBP/NOK may fall 568 - 828 pips

Our pivot point stands at 14.2180.

Our preference

The downside prevails as long as 14.2180 is resistance.

Alternative scenario

Above 14.2180, look for 14.2620 and 14.2880.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 14.1849 and 14.1854).

Supports and resistances

14.2880 **

14.2620 *

14.2180 **

14.2010

14.1748 last

14.1180

14.0920 **

14.0660 *

14.0390 **

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