GBP/USD Technical Analysis - 14/AprilBy Praful Patat 05:00 GMT GBPUSD is consolidation on 1 hour chart, break of 1.6225 support next target will be 1.6171 and break of 1.6315 resistance further going up side toward 1.6357. GBPUSD is forming wedge formation on 4 hour chart, still in progress. In GBPUSD strong support is at 1.6171 and if not break of this support then in bigger range 1.6512, 1.6628 area possible. If GBPUSD will go 1.6357 and reverse from there then, GBPUSD will form “M” shape pattern on 4 hour chart. New High: 1.6288, 1.6324, 1.6303. New Low: 1.6216, 1.6252, 1.6131. Pivot Point: R3-1.6342, R2-1.6315, R1-1.6298, PP-1.6270, S1-1.6243, S2-1.6226, S3-1.6198.
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