width=482
 
GBP/USD closed higher on Tuesday and renewed the rally off December's low. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are diverging but turning bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off December's low, November's high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.