British Pound / Swedish Krona - GBP/SEK

Pivot points are a technical indicator that traders use to predict upcoming areas of technical significance, such as support and resistance. They're calculated by averaging the high, low and closing prices of a previous period. That could be a day, a week or a month.

If a market is trading above its previous pivot point (known as P), it is seen as a bullish signal. If it is below, it is bearish.

GBP/SEK is the current exchange rate between the Great British pound and the Swedish krona, telling you how many kronor it takes to purchase a single pound. It is traded on the forex markets as an exotic pair.

Sweden and the United Kingdom are two prominent European economies that sit outside of the European Union (EU), and both retain close economic and political ties to the bloc.

As the pair contains neither the US dollar nor the euro – the two top-traded currencies globally – it can move independently of major currency markets.