Ceasefire Not Expected To Hold

This article answers a lot of questions about this 'truce' and reveals what Israel really thinks:

Gaza Rockets Hit South After Truce

First, a quick update:

Several rockets were launched from Gaza toward south Israel after 9 pm Wednesday, when the ceasefire between Hamas and Israel took effect. The IDF held its fire.

Air raid sirens were heard after 9 pm in Eshkol, Sderot and the Hof Ashkelon and Sha'ar Hanegev regional councils. Rockets landed in the Eshkol and Sha'ar Hanegev regional councils, but there were no reports of injury or damage.
According to Mordechai, time will tell what the deterrence did to Hamas. "We'll know within weeks or months. The chief of staff is in the south, issuing orders to the forces. We are alert and ready."

The deal was brokered by the new Islamist government of Egypt, solidifying its role as a leader in the quickly shifting Middle East. Under the agreement, Egypt will play a key role in maintaining the peace.
 
Clinton said the ceasefire between Israel and the Palestinians in Gaza had come at a crucial time for countries of the Middle East.

That has to be a joke. Egypt? The same government who's dominant party calls for the destruction of Israel? Really? Talk about the fox guarding the henhouse. 

Below we see the reality of the situation:

IDF forces remain on high alert on the border for the time being, and it appears that the army fears that is it just a matter of time before the next round of violence breaks out. The security establishment hopes the severe blows the Air Force dealt Hamas and Islamic Jihad during the eight days of Operation Pillar of Defense will result in a period of calm, but security officials have no doubt that the rocket and mortar fire on south Israel will continue in the coming days.

The army fears that armed Palestinian groups competing with Hamas for supremacy in Gaza – particularly Islamic Jihad, the Popular Resistance Committees and Salafi terrorists – will seek to ignite the region by launching rockets.

Israeli politicians also expect that the fighting with Hamas will resume at some point. "There will be more rounds of violence," one official said. "The question is whether we succeeded in delaying the next round. The conflict is not over.

"Another question is how we detach Gaza's dependence on Israel. We provide them with electricity and water – this responsibility should be handed over to the Egyptians," he added. "This should be Israel's goal."