GBP/USD closed sharply lower on Friday as it renewed the decline off this month's high. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends today's decline, the reaction low crossing is the next downside target. Closes above Thursday's high crossing are needed to confirm that a short-term low has been posted.
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