There is much debate about this, with the Church as Spiritual Israel as much of a contender as some believe an alternative would be OT Israel in this description. But why can't it simply be a representation of Spiritual Israel, or the Church itself consisting of saved Jews and Gentiles both, Symbolically thru Mary, but not just Mary, but Symbolically thru the Church / Spiritual Israel as well?
Let us begin : .............................................................................................................................................................................
Revelation 12 radically alters the elements of Joseph’s dream. It reinterprets them in terms of spiritual Israel — the church or the congregation of God’s people (Galatians 6:16).
In Revelation the 12 tribes do not refer to the ancient nation, but symbolize the complete church (7:1-8). The woman being arrayed with the sun could represent the church as the radiant bride of Christ (2 Corinthians 11:2). The moon under the woman’s feet and the crown on her head could depict her victory through Christ.
Under this imagery, the “woman” of Revelation 12 would represent God’s pure church. Biblical scholar M. Eugene Boring says: “She is the cosmic woman, clothed with the sun, with the moon under her feet, and crowned with twelve stars, who brings forth the Messiah” (Interpretation: A Bible Commentary for Teaching and Preaching, “Revelation,” p. 152).
In the New Testament, the church is known as spiritual Israel, Zion and “the mother” (Galatians 4:26; 6:16; Ephesians 5:23-24, 30-32; Hebrews 12:22). Zion-Jerusalem was the idealized mother of the nation of Israel (Isaiah 54:1). The metaphor carried over into the New Testament and was applied to the church (Galatians 4:26).
www.gci.org
“A great wonder in Heaven” means the vision has spiritual implications.
The Jews were also the mother nation that brought forth the Promised Son, Messiah.
A woman symbolizes a church of believers. The true church is the Bride of Christ.
churchages.net
The events described in the second half of the book of Revelation are directly related to the past and future of two symbolic women who are diametrical opposites. The first (Revelation 12) represents those who have been God's covenant people—the "Church of God"—both Old Testament Israel and the New Testament called-out servants of Christ. The identity of this woman (national Israel or the New Testament Church) in Revelation is determined by the context and other scriptures. Jerusalem, the holy city, is portrayed as their spiritual home (Revelation 11:2).
www.ucg.org
www.evidenceunseen.com
d. A woman clothed with the sun: Scripturally, this woman clothed with the sun should be identified with Israel, according to Joseph’s dream (Genesis 37:9-11). In that dream, the sun represented Jacob, the moon represented Joseph’s mother Rachel, and the eleven stars were the sons of Israel which bowed down to Joseph. In this sign with twelve stars, Joseph is now among the other tribes of Israel.
i. In other Old Testament passages, Israel (or Zion or Jerusalem) is often represented as a woman (Isaiah 54:1-6, Jeremiah 3:20, Ezekiel 16:8-14, and Hosea 2:19-20).
a. Being with child: Later in the chapter, it is clear that this child born of Israel is Jesus (She bore a male Child who was to rule all nations with a rod of iron, Revelation 12:5).
b. She cried out in labor and in pain to give birth: The pain described refers to the travail of Israel at the time of Jesus’ birth (under Roman occupation and oppression).
enduringword.com
Could the "Woman" be both physical Israel through which the Messiah arose (O/T), and spiritual Israel (Gal. 6:16) that gives birth to the saints of the the Old and New Testaments (Rev. 12:1-2, 5, 13, 17)
hermeneutics.stackexchange.com
Throughout Revelation 12 we note that the “woman” is repeatedly protected by God (verses 6, 14-16), especially as the time approaches for the “kingdom of our God” to be established on earth (verse 10).
In the New Testament, God’s Church is symbolized as a woman; and its members are likened to virgins (Matthew 25:1-13; Revelation 14:4; Revelation 19:7). The New Testament Church is called “the Israel of God” (Galatians 6:16) and likened to “Jerusalem above,” which is called “the mother of us all” (Galatians 4:26, also see Hebrews 12:22-23). Members of the Church are described as “a chosen generation, a royal priesthood, a holy nation, His [God’s] own special people” (1 Peter 2:9).
When Christ returns to earth, He is going to marry the Church, which is called “His wife” in Revelation 19:7. Read more about Jesus Christ and the Church in our article “Marriage Supper of the Lamb.” Based on these passages, it is clear that the woman in Revelation 12 represents God’s people.
lifehopeandtruth.com
There is almost no end to interpretation, with OT Israel, and a NT Spiritual Israel being the two greatest contenders. I have selectively quoted from a few sites, a few of which themselves have concluded that OT Israel is in fact their choice.
It is a quite complicated issue and debate, but I see there are those here, who think they are smarter than everyone else, including all biblical scholars and interpreters, who can't decide nor settle these questions amongst themselves, for all to agree, but those with agendas here, to attack premillennialism, by attempting to comment on that which isn't settled by far amongst scholars, has never been settled, and will never be settled in our lifetimes, but hey lets attack premillennialism while we're at it, and pretend we're smarter than everyone else?
Let us begin : .............................................................................................................................................................................
Revelation 12 radically alters the elements of Joseph’s dream. It reinterprets them in terms of spiritual Israel — the church or the congregation of God’s people (Galatians 6:16).
In Revelation the 12 tribes do not refer to the ancient nation, but symbolize the complete church (7:1-8). The woman being arrayed with the sun could represent the church as the radiant bride of Christ (2 Corinthians 11:2). The moon under the woman’s feet and the crown on her head could depict her victory through Christ.
Under this imagery, the “woman” of Revelation 12 would represent God’s pure church. Biblical scholar M. Eugene Boring says: “She is the cosmic woman, clothed with the sun, with the moon under her feet, and crowned with twelve stars, who brings forth the Messiah” (Interpretation: A Bible Commentary for Teaching and Preaching, “Revelation,” p. 152).
In the New Testament, the church is known as spiritual Israel, Zion and “the mother” (Galatians 4:26; 6:16; Ephesians 5:23-24, 30-32; Hebrews 12:22). Zion-Jerusalem was the idealized mother of the nation of Israel (Isaiah 54:1). The metaphor carried over into the New Testament and was applied to the church (Galatians 4:26).

Revelation 12 - Jesus and the Church - Grace Communion International
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The Jews and the church both have 12 stars
REVELATION 12:1 And there appeared a great wonder in heaven; a woman clothed with the sun, and the moon under her feet, and upon her head a crown of twelve stars:“A great wonder in Heaven” means the vision has spiritual implications.
The Jews were also the mother nation that brought forth the Promised Son, Messiah.
A woman symbolizes a church of believers. The true church is the Bride of Christ.
ChurchAges.net - Revelation 12 - Israel and America
ChurchAges.net - Jerusalem can be spelled JerUSAlem. Evidence of a link between Israel and America.
The events described in the second half of the book of Revelation are directly related to the past and future of two symbolic women who are diametrical opposites. The first (Revelation 12) represents those who have been God's covenant people—the "Church of God"—both Old Testament Israel and the New Testament called-out servants of Christ. The identity of this woman (national Israel or the New Testament Church) in Revelation is determined by the context and other scriptures. Jerusalem, the holy city, is portrayed as their spiritual home (Revelation 11:2).

The Two Women of Revelation
The events described in the second half of the book of Revelation are directly related to the past and future of two symbolic women who are diametrical opposites.

The Church?
Amillennial and historical premillennial interpreters argue that the woman here is the Church. Advocates of this interpretation argue that the NT authors call the Church a woman (2 Cor. 11:2; Eph. 5:25-27, 32; 2 Jn. 1, 5; 3 Jn. 9), and the early church fathers call the Church a woman as well(Rev. 12:1) Who is the woman: Israel, Mary, or the Church? | Evidence Unseen

d. A woman clothed with the sun: Scripturally, this woman clothed with the sun should be identified with Israel, according to Joseph’s dream (Genesis 37:9-11). In that dream, the sun represented Jacob, the moon represented Joseph’s mother Rachel, and the eleven stars were the sons of Israel which bowed down to Joseph. In this sign with twelve stars, Joseph is now among the other tribes of Israel.
i. In other Old Testament passages, Israel (or Zion or Jerusalem) is often represented as a woman (Isaiah 54:1-6, Jeremiah 3:20, Ezekiel 16:8-14, and Hosea 2:19-20).
2. (2) The woman gives birth.
Then being with child, she cried out in labor and in pain to give birth.a. Being with child: Later in the chapter, it is clear that this child born of Israel is Jesus (She bore a male Child who was to rule all nations with a rod of iron, Revelation 12:5).
b. She cried out in labor and in pain to give birth: The pain described refers to the travail of Israel at the time of Jesus’ birth (under Roman occupation and oppression).

Enduring Word Bible Commentary Revelation Chapter 12
David Guzik commentary on Revelation 12 explains the woman, the child, and the dragon, and the conflict in heaven between Michael and the dragon.

Could the "Woman" be both physical Israel through which the Messiah arose (O/T), and spiritual Israel (Gal. 6:16) that gives birth to the saints of the the Old and New Testaments (Rev. 12:1-2, 5, 13, 17)

Can we interpret the "Woman" of Revelation (12:1-2, 13, 17) as the "Israel of God" both of the Old and New Covenants?
The great symbolism of the "woman" in the Book of Revelation (chapter 12) seems to represent Israel both of the Old and New Covenants: Revelation 12:1-2: "A great sign appeared in h...
Who is the woman in Revelation 12?
The woman of the Apocalypse—described as being “clothed with the sun, with the moon under her feet, and on her head a garland of twelve stars” (verse 1)—represents Old Testament Israel. In the Old Testament, God referred to His people as a woman whom He had dressed in honor and splendor (Ezekiel 16). The garland with 12 stars may be symbolic of the 12 tribes of Israel (Genesis 37:9-10).Throughout Revelation 12 we note that the “woman” is repeatedly protected by God (verses 6, 14-16), especially as the time approaches for the “kingdom of our God” to be established on earth (verse 10).
In the New Testament, God’s Church is symbolized as a woman; and its members are likened to virgins (Matthew 25:1-13; Revelation 14:4; Revelation 19:7). The New Testament Church is called “the Israel of God” (Galatians 6:16) and likened to “Jerusalem above,” which is called “the mother of us all” (Galatians 4:26, also see Hebrews 12:22-23). Members of the Church are described as “a chosen generation, a royal priesthood, a holy nation, His [God’s] own special people” (1 Peter 2:9).
When Christ returns to earth, He is going to marry the Church, which is called “His wife” in Revelation 19:7. Read more about Jesus Christ and the Church in our article “Marriage Supper of the Lamb.” Based on these passages, it is clear that the woman in Revelation 12 represents God’s people.

Who Are the Woman, Child and Dragon in Revelation 12?
Revelation 12 provides an overview of three major players in the world today and their impact on end-time events. Whom do the woman, Child and dragon represent, and what can we learn from this section of Bible prophecy?

There is almost no end to interpretation, with OT Israel, and a NT Spiritual Israel being the two greatest contenders. I have selectively quoted from a few sites, a few of which themselves have concluded that OT Israel is in fact their choice.
It is a quite complicated issue and debate, but I see there are those here, who think they are smarter than everyone else, including all biblical scholars and interpreters, who can't decide nor settle these questions amongst themselves, for all to agree, but those with agendas here, to attack premillennialism, by attempting to comment on that which isn't settled by far amongst scholars, has never been settled, and will never be settled in our lifetimes, but hey lets attack premillennialism while we're at it, and pretend we're smarter than everyone else?
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