On Monday morning, the GBP/USD reached the June low level zone at 1.4075/1.4085. The near term future was dependent on what would happen at this level.
In the case of the rate passing the support zone of the June low levels, the rate would most likely immediately find support in the weekly S1 simple pivot point at 1.4062. Afterwards, an extension of the decline could eventually reach the support of the weekly S2 simple pivot point at 1.4000.
On the other hand, if the support zone holds, the rate could recover. A recovery could find resistance in the 1.4126/1.4144 zone. In that zone the weekly simple pivot point and the 55, 100 and 200-hour simple moving averages would provide resistance.
