GBP/ILS may fall 271 - 403 pips

4.7975 is our pivot point.

Our preference

The downside prevails as long as 4.7975 is resistance.

Alternative scenario

The upside breakout of 4.7975, would call for 4.8197 and 4.8330.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.7847 and 4.7857).

Supports and resistances

4.8330 **

4.8197 *

4.7975 **

4.7887

4.7694 last

4.7423

4.7291 **

4.7159 *

4.7027 **

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