Dwight Pentecost quotes William Moorehead:
"In xi:19 we read: "And the temple (sanctuary) of God was opened in heaven, and there was seen in his temple the ark of the covenant." This is strictly Jewish ground; the temple, the ark, the covenant belong to Israel, represent Hebrew relations with God and Hebrew privileges. The Spirit now takes up Jewish things, Jewish standing, covenant, hopes, dangers, tribulations and triumph."
Pentecost himself concludes: "The woman can be none other than Israel, with whom God has His covenants, and to whom those covenants will be fulfilled."
The woman of Rev. chapter 12 is most definantly Israel. However, the woman of chapter 17 is Babylon, which speaks first of the entire world religious and political system in rebellion against God, which began at the Tower of babel, but chapters 17 and 18 also contain revelations of specific entities (the Catholic Church, Literal Babylon, etc).
http://www.mychristiansite.com/personal/shilohcomes/index.html
