GBP/ILS may fall 211 - 316 pips

Our pivot point stands at 4.9103.

Our preference

As long as 4.9103 is resistance look for 4.8560.

Alternative scenario

The upside breakout of 4.9103, would call for 4.9281 and 4.9386.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.8908 and 4.8901).

Supports and resistances

4.9386 **

4.9281 *

4.9103 **

4.9034

4.8876 last

4.8665

4.8560 **

4.8454 *

4.8349 **

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