$GBPUSD

GBPUSD closed sharply lower on Thursday as it consolidated some of this week's rally. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. 

Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, weekly resistance crossing at 1.6353 is the next upside target. Closes below last Thursday's low crossing at 1.6065 would confirm that a short-term top has been posted. 

First resistance is Wednesday's high crossing at 1.6314. 

Second resistance is weekly resistance crossing at 1.6353. 

First support is last Thursday's low crossing at 1.6065. 

Second support is the reaction low crossing at 1.5998.