$GBPUSD

$GBPUSD closed higher due to short covering on Wednesday as it consolidated some of the decline off September's high. The mid-range close sets the stage for a steady opening when Thursday's night session begins trading. 

Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the aforementioned decline, the 38% retracement level of the June-September rally crossing at 1.5933 is the next downside target. Closes above the 20-day moving average crossing at 1.6157 would confirm that a short-term low has been posted. 

First resistance is the 10-day moving average crossing at 1.6105. 

Second resistance is the 20-day moving average crossing at 1.6157. 

First support is today's low crossing at 1.5972. 

Second support is the 38% retracement level of the June-September rally crossing at 1.5933.