The GBP/USD passed all technical resistance levels up to the September high level zone. On Friday morning, the rate was testing the resistance of the zone. Future forecasts depended on whether the resistance holds.
In the case that the September high zone holds, a potential decline wouldaim at the weekly simple pivot point at 1.3833. Below the pivot point, the pair could find support in the combination of the 55, 100 and 200-hour simple moving averages near 1.3810.
However, a passing of the September high level zone could result in the pair first testing the 1.3900 level. Afterwards, the 1.3934 level where the weekly R1 simple pivot point is located at might serve as resistance.
