The British pound extended its gains against the Norwegian krone during the Asian session. This happened after EU officials agreed to delay Brexit until January 31. Even though PM Johnson won’t pull Britain out of the European Union on October 31 — his “do or die” deadline — he is not going to resign.

The Parliament rejected Johnson’s latest attempt to trigger a December general election on Monday. However, a snap election before Christmas is still on the table. Boris Johnson believes that a general election could provide him with a majority in the Parliament. And help deliver his Brexit proposals.

The new Brexit delay eased concerns among investors and pushed the Pound vs. Norwegian krone pair near the October high of 11.91. Falling oil prices for the second straight day are also weighing on the Norwegian krone. As of 7:00 a.m. London time, the GBP/NOK pair traded at 11.87.

From a technical standpoint, the 11.91 multi-month high reached on October 18 still acts as an important resistance zone for the pair. In the absence of market-moving Brexit news, it could be expected sellers to join the pair near 11.91 and push the price lower. Yesterday’s high of 11.86 also acts as a short-term resistance level for the pair.

To the downside, we look at the October 24 low of 11.69 as an important support level, followed by the May high of 11.52. The daily RSI shows slightly overbought market conditions, which may pose another risk for sterling buyers at the moment. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views