""
 
GBP/USD closed higher due to short covering on Friday as it consolidates some of Thursday's decline. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are 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 renews the rally off July's low, the reaction high crossing is the next upside target.