$GBPUSD

GBPUSD closed higher on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. 

Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off last week's high, the reaction low crossing at 1.5998 is the next downside target. If March renews the rally off November's low, weekly resistance crossing at 1.6353 is the next upside target.

First resistance is last Wednesday's high crossing at 1.6267. 

Second resistance is weekly resistance crossing at 1.6353. 

First support is Thursday's lowcrossing at 1.6065. 

Second support is the reaction low crossing at 1.5998.