GBP/ILS may rise 219 - 329 pips

Our pivot point stands at 4.7522.

Our preference

The upside prevails as long as 4.7522 is support.

Alternative scenario

The downside breakout of 4.7522 would call for 4.7338 and 4.7229.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 4.7657 and 4.7664).

Supports and resistances

4.8234 **

4.8125 *

4.8015 **

4.7905

4.7686 last

4.7595

4.7522 **

4.7338 *

4.7229 **

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