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GBP/USD closed sharply higher on Wednesday renewing the rally off July's low. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, May's high crossing is the next upside target. Closes below last Thursday's low crossing would confirm that a short-term top has been posted.