GBP/ILS may rise 263 - 379 pips

4.9089 is our pivot point.

Our preference

The upside prevails as long as 4.9089 is support.

Alternative scenario

The downside breakout of 4.9089 would call for 4.8894 and 4.8778.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.9169 and 4.9115).

Supports and resistances

4.9853 **

4.9737 *

4.9621 **

4.9505

4.9242 last

4.9166

4.9089 **

4.8894 *

4.8778 **

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