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GBP/USD closed lower due to profit taking on Wednesday as it consolidates some of last week's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends last week's rally, March's high crossing is the next upside target. Closes below the 20-day moving average crossing would temper the near-term friendly outlook.