GBP/ILS may rise 208 - 293 pips

Our pivot point stands at 4.6906.

Our preference

The upside prevails as long as 4.6906 is support.

Alternative scenario

The downside breakout of 4.6906 would call for 4.6764 and 4.6679.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.6976 and 4.6969).

Supports and resistances

4.7494 **

4.7409 *

4.7325 **

4.7240

4.7032 last

4.6961

4.6906 **

4.6764 *

4.6679 **

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