GBP/ILS may rise 294 - 441 pips

4.8411 is our pivot point.

Our preference

As long as 4.8411 is support look for 4.9148.

Alternative scenario

The downside breakout of 4.8411 would call for 4.8165 and 4.8019.

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 4.8660 and 4.8618).

Supports and resistances

4.9442 **

4.9295 *

4.9148 **

4.9001

4.8707 last

4.8508

4.8411 **

4.8165 *

4.8019 **

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