GBP/NOK may fall 459 - 669 pips

Our pivot point is at 13.4900.

Our preference

The downside prevails as long as 13.4900 is resistance.

Alternative scenario

Above 13.4900, look for 13.5260 and 13.5460.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 13.4768 and 13.4883). Finally, the GBP/NOK has penetrated its lower Bollinger band (13.4602).

Supports and resistances

13.5460 **

13.5260 *

13.4900 **

13.4770

13.4569 last

13.4110

13.3900 **

13.3690 *

13.3480 **

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