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GBP/USD closed higher on Tuesday and the high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. Multiple closes above the reaction high crossing are needed to confirm that a short-term low has been posted. If it renews the decline off November's high, the 62% retracement level of the May-November rally crossing is the next downside target.