GBP/SEK may rise 461 - 681 pips

13.40 is our pivot point.

Our preference

As long as 13.40 is support look for 13.50.

Alternative scenario

The downside breakout of 13.40 would call for 13.36 and 13.34.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (13.44) but above its 50 period moving average (13.39).

Supports and resistances

13.54 **

13.52 *

13.50 **

13.48

13.43 last

13.41

13.40 **

13.36 *

13.34 **

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