GBP/USD closed lower on Wednesday as it consolidates below the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain bearish signalling that additional weakness is possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the near-term bearish outlook.