GBP/NOK may rise to 13.8840 - 14.0400

Our pivot point is at 13.3230.

Our preference

Rebound.

Alternative scenario

The downside breakout of 13.3230 would call for 13.0630 and 12.9080.

Comment

The RSI is above its neutrality area at 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 stands above its 20 period moving average (13.5099) but below its 50 period moving average (13.5919).

Supports and resistances

14.3510 **

14.1950 *

14.0400 **

13.8840

13.5717 last

13.4250

13.3230 **

13.0630 *

12.9080 **

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