GBP/ILS may rise 243 - 341 pips

Our pivot point stands at 4.7225.

Our preference

The upside prevails as long as 4.7225 is support.

Alternative scenario

Below 4.7225, expect 4.7060 and 4.6962.

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 4.7204 and 4.7225). Finally, the GBP/ILS has crossed above its upper Bollinger band (4.7344).

Supports and resistances

4.7894 **

4.7796 *

4.7698 **

4.7600

4.7357 last

4.7289

4.7225 **

4.7060 *

4.6962 **

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