GBP/ILS may rise 217 - 315 pips

Our pivot point is at 4.7175.

Our preference

The upside prevails as long as 4.7175 is support.

Alternative scenario

The downside breakout of 4.7175 would call for 4.7011 and 4.6913.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 4.7262 and 4.7287).

Supports and resistances

4.7814 **

4.7716 *

4.7619 **

4.7521

4.7304 last

4.7239

4.7175 **

4.7011 *

4.6913 **

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