An unconditional humanitarian cease-fire will begin at 8 a.m. Local time in Gaza, U.N. Secretary-General Ban Ki-moon and U.S. Secretary of State John Kerry announced.
It will last for 72 hours unless extended, they said in a joint statement. During this time the forces on the ground will remain in place. Ref. CNN
Element, I do not think it is as simple as that. Many believe that with Palestine as a state the war will escalate since Palestine will now be able to have her own military.
I often read of these cease fires but I wonder about the restraint of Hamas. Suppose they keep firing missiles or firing their guns, does Israel stay patient and honor the cease fire?
The following answers my own question:
Israel resumes military operations in Gaza as fragile truce collapses
Shaky truce ran into problems just a few hours after it began. [..] More than 1,450 Palestinians in Gaza have been killed since the conflict began on July 8, mostly civilians. Israel says at least 56 of its soldiers have died along with three civilians. Ref. Source 2
An Israeli soldier was abducted by Palestinian militants today during an attack in Gaza in which two other Israeli soldiers died, Israeli military Lt. Col. Peter Lerner told CNN's Wolf Blitzer.
The attack took place as Israeli soldiers were decommissioning a tunnel, Lerner said. The military earlier named the missing soldier as Lt. Hadar Goldin. A search operation is under way to find him, Lerner confirmed. "We need to bring him home," Lerner said. Ref. CNN