GBP/ILS may fall 211 - 315 pips

Our pivot point stands at 4.8647.

Our preference

The downside prevails as long as 4.8647 is resistance.

Alternative scenario

The upside breakout of 4.8647, would call for 4.8823 and 4.8927.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.8492 and 4.8584).

Supports and resistances

4.8927 **

4.8823 *

4.8647 **

4.8578

4.8410 last

4.8199

4.8095 **

4.7990 *

4.7886 **

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