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