GBP/NOK may rise 615 - 825 pips

Our pivot point is at 13.4830.

Our preference

The upside prevails as long as 13.4830 is support.

Alternative scenario

Below 13.4830, expect 13.4470 and 13.4260.

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 trading above both its 20 and 50 period moving average (respectively at 13.5112 and 13.5104).

Supports and resistances

13.6390 **

13.6180 *

13.5970 **

13.5760

13.5145 last

13.4960

13.4830 **

13.4470 *

13.4260 **

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