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GBP/USD closed lower on Wednesday and below the 10-day moving average crossing signalling that a short-term top has been posted. The low-range close sets the stage for a steady to lower 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 extends this summer's rally, the 75% retracement level of the 2009-2010-decline crossing is the next upside target.