GBP/ILS may fall 200 - 286 pips

4.7717 is our pivot point.

Our preference

The downside prevails as long as 4.7717 is resistance.

Alternative scenario

Above 4.7717, look for 4.7861 and 4.7947.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.7659 and 4.7614).

Supports and resistances

4.7947 **

4.7861 *

4.7717 **

4.7660

4.7562 last

4.7362

4.7276 **

4.7190 *

4.7104 **

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