GBP/SEK may rise 472 - 682 pips

Our pivot point stands at 13.24.

Our preference

Rebound.

Alternative scenario

The downside breakout of 13.24 would call for 13.21 and 13.19.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (13.27) but under its 50 period moving average (13.29).

Supports and resistances

13.39 **

13.37 *

13.35 **

13.33

13.28 last

13.26

13.24 **

13.21 *

13.19 **

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