A temporary truce in the Gaza Strip entered its second day on Wednesday and Israel said it might be ready to extend the ceasefire.

The 72-hour ceasefire between Israel and Palestine that took effect on Tuesday has held through its second day as residents survey the damage left by the clash.

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The conflict lasted for nearly a month and has left 1,875 Palestinians and 67 people in Israel dead, according to reports.

Palestinian Foreign Minister Riyad al-Maliki said he expects the truce to last another 72 hours or longer.

Representatives from Israel and Palestine are expected to hold discussions regarding the possibility of extending the ceasefire, according to Aljazeera.

In a report by  MENA state news agency, Egypt's chief of intelligence talked with Palestinian representatives after conferring with the Israeli delegation in Cairo.

"The indirect talks between the Palestinians and Israelis are moving forward," said an Egyptian official, pointing out that the talks between the two groups was not done in person. "It is still too early to talk about outcomes but we are optimistic."

The deadline for the three-day truce is on Friday, but according to an Israeli official, Israel is ready to make plans in extending the ceasefire.

Both Israel and Palestine have confirmed sending representatives to Cairo but both sides have different demands which posed a challenge for an extended truce.

Israel is fighting to "demilitarize" Gaza while the Palestinians are demanding that the blockade in Gaza strip be removed and the border crossing be opened.

After the truce was implemented, Gaza residents who have been terrorized finally came out of hiding. Some shops have reopened and children were seen out on the streets playing, according to the AFP news agency.

TagsGaza, Hamas, ceasefire, Israel, Palestine