GBP/ILS may rise 267 - 399 pips

Our pivot point stands at 4.7528.

Our preference

The upside prevails as long as 4.7528 is support.

Alternative scenario

Below 4.7528, expect 4.7306 and 4.7173.

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 4.7608 and 4.7695). Finally, the GBP/ILS has crossed above its upper Bollinger band (4.7766).

Supports and resistances

4.8434 **

4.8301 *

4.8169 **

4.8037

4.7770 last

4.7615

4.7528 **

4.7306 *

4.7173 **

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