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GBP/USD closed slightly lower on Wednesday as it extended some of this week's decline. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible near-term. If it renews the decline off November's high, October's low crossing is the next downside target. Closes above Monday's high crossing are needed to confirm that a short-term low has been posted.