GBP/NOK may rise 525 - 755 pips

Our pivot point is at 13.5140.

Our preference

The upside prevails as long as 13.5140 is support.

Alternative scenario

Below 13.5140, expect 13.4760 and 13.4540.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 13.5418 and 13.5412).

Supports and resistances

13.6680 **

13.6450 *

13.6230 **

13.6000

13.5475 last

13.5280

13.5140 **

13.4760 *

13.4540 **

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