GBP/ILS may fall to 4.6521 - 4.7249

5.0151 is our pivot point.

Our preference

Under pressure below 5.0151.

Alternative scenario

The upside breakout of 5.0151, would call for 5.1385 and 5.2120.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.9736 and 4.8963).

Supports and resistances

5.2120 **

5.1385 *

5.0151 **

4.9666

4.8901 last

4.7249

4.6521 **

4.5794 *

4.5066 **

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