GBP/SEK may rise 453 - 673 pips

Our pivot point is at 13.32.

Our preference

The upside prevails as long as 13.32 is support.

Alternative scenario

The downside breakout of 13.32 would call for 13.29 and 13.27.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.34 and 13.34). Finally, the GBP/SEK has crossed above its upper Bollinger band (13.35).

Supports and resistances

13.48 **

13.46 *

13.44 **

13.41

13.37 last

13.34

13.32 **

13.29 *

13.27 **

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