GBP/NOK may rise 619 - 849 pips

13.3320 is our pivot point.

Our preference

Our next up target stands at 13.4480.

Alternative scenario

The downside breakout of 13.3320 would call for 13.2950 and 13.2730.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 13.3432 and 13.3535).

Supports and resistances

13.4920 **

13.4700 *

13.4480 **

13.4250

13.3631 last

13.3470

13.3320 **

13.2950 *

13.2730 **

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