We report on ultrafast time-resolved pump-probe studies in a CdZnTe/CdMgTe planar guiding structure covered with a metallic grating. The one-dimensional periodic gold structure allows for efficient coupling into the guiding layer for p-polarized 30 fs optical pulses with a large spectral bandwidth of about 60 nm. The resulting spectral width of optical pulses propagating inside the guiding layer corresponds to 20-30 nm. We demonstrate that the excitation of exciton-polariton modes in the guiding layer leads to a modulation of the optical response in the vicinity of the excitonic resonance. Spatially resolved pump-probe measurements show an asymmetric behavior in the optical response when the relative position of the pump and probe spots is varied on the scale of ten micrometers perpendicular to the metal ridges. This is attributed to the excitation of resonant and off-resonant exciton-polariton modes which propagate in opposite directions inside the guiding layer in accordance with their dispersion relations. Two main mechanisms are considered and evaluated, namely, Pauli blocking and excitation-induced dephasing, which are shown to be responsible for the pump-induced changes in the exciton absorption spectrum. While both of these processes lead to the generation of photoexcited carriers in the guiding layer, their impact on the optical properties (transmission and reflection) are different which leads to the asymmetric behavior of the spatially resolved transients.