GBP/ILS may fall 261 - 376 pips

4.9262 is our pivot point.

Our preference

The downside prevails as long as 4.9262 is resistance.

Alternative scenario

Above 4.9262, look for 4.9456 and 4.9571.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.9135 and 4.9099).

Supports and resistances

4.9571 **

4.9456 *

4.9262 **

4.9185

4.9040 last

4.8779

4.8664 **

4.8549 *

4.8433 **

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