GBP/USD closed lower due to profit taking on Tuesday. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are overbought and are turning neutral to 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 extends this summer's rally, the 75% retracement level of the 2009-2010-decline crossing is the next upside target.