GBP/NOK may rise 471 - 691 pips

Our pivot point stands at 13.4320.

Our preference

The upside prevails as long as 13.4320 is support.

Alternative scenario

Below 13.4320, expect 13.3940 and 13.3720.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 13.4420 and 13.4661). Finally, the GBP/NOK is trading above its upper Bollinger band (standing at 13.4678).

Supports and resistances

13.5820 **

13.5600 *

13.5370 **

13.5150

13.4679 last

13.4470

13.4320 **

13.3940 *

13.3720 **

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