On Friday morning, the GBP/USD currency exchange rate reached the resistance of the 1.4200 level. The 1.4200 mark caused a decline on Wednesday, which reached the 1.4100 level.
The near term future forecasts were based upon whether or not the 1.4200 level provides resistance.
If the GBP/USD passes the resistance of the 1.4200 mark, the pair would test the resistance of the 1.4220 level, which provided resistance on Tuesday. In the case of the 1.4220 level failing, the pair could reach for the 1.4250 mark and the weekly R2 simple pivot point at 1.4258.
A potential decline would look for support in the weekly R1 simple pivot point at 1.4181. Below the pivot point, the 55 and 100-hour simple moving averages could provide support near 1.4160. In the case of the GBP/USD declining even lower, the 200-hour SMA at 1.4120 and the zone above 1.4100 could be reached.
