GBP/ILS may rise to 5.0252 - 5.1260

4.6630 is our pivot point.

Our preference

As long as 4.6630 is support look for 5.1260.

Alternative scenario

The downside breakout of 4.6630 would call for 4.4946 and 4.3944.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.7984 and 4.7551).

Supports and resistances

5.3277 **

5.2269 *

5.1260 **

5.0252

4.8001 last

4.7292

4.6630 **

4.4946 *

4.3944 **

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