UPDATE 4:45 p.m.: Israel and Palestinian groups have agreed to a 72-hour humanitarian ceasefire, according to the BBC

The Egyptian-proposed truce will reportedly go into effect Tuesday at 8:00 a.m., according to The Jerusalem Post. Officials told the paper that the ceasefire would be "unconditional" and that Israel was preparing for Hamas to execute a major attack before the deadline. 

ORIGINAL POST: According to Haaretz and other reports, a three-day ceasefire will commence at 8 a.m. local time on Tuesday after the Palestinian factions in Gaza agreed to a ceasefire at the urging of Egypt. As Jack Khoury noted:

Palestinian officials in Cairo say Egypt has been holding intensive efforts consolidate a draft for a 72-hour cease-fire agreement. During that truce period, Egyptian mediators would oversee indirect talks between the Palestinian and Israeli delegations.

Palestinian delegates have been in Cairo trying to iron the details of a long-term ceasefire proposal that would end the nearly month-long battle between Israel and Hamas and others groups in Gaza.

Once the announcement is made, Israel is expected to accept the temporary ceasefire proposal, anchoring in part by reports that the Israeli army had destroyed all known tunnels in Gaza.

The last temporary truce failed after only a few hours reportedly after Hamas breached last week's ceasefire with an attack that killed three Israeli soldiers. Fighting has continued steadily ever since with the Palestinian death toll surpassing 1800, a barrage of rocket fire continuing from Gaza into Israel, Israel killing ten Palestinians in an airstrike near a United Nations school, and two terrorist attacks in Jerusalem placed Israel on high alert on Monday.