/
 
GBP/USD closed higher on Friday as it consolidates some of the decline off August's high. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends the aforementioned decline, the 75% retracement level of the 2010-2011-rally crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.