GBP/USD closed higher on Wednesday ending a three-day correction off last week's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it resumes the rally off May's low, the 38% retracement level of the 2009-2010-decline crossing is the next upside target.