GBP/ILS may rise 270 - 386 pips

Our pivot point stands at 4.6907.

Our preference

The upside prevails as long as 4.6907 is support.

Alternative scenario

Below 4.6907, expect 4.6713 and 4.6597.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.7002 and 4.6985). Finally, the GBP/ILS is trading above its upper Bollinger band (standing at 4.7075).

Supports and resistances

4.7736 **

4.7620 *

4.7504 **

4.7388

4.7118 last

4.6983

4.6907 **

4.6713 *

4.6597 **

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