GBP/NOK may fall 490 - 710 pips

13.5800 is our pivot point.

Our preference

As long as 13.5800 is resistance look for 13.4760.

Alternative scenario

Above 13.5800, look for 13.6180 and 13.6400.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 13.5500 and 13.5524).

Supports and resistances

13.6400 **

13.6180 *

13.5800 **

13.5650

13.5470 last

13.4980

13.4760 **

13.4540 *

13.4310 **

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