GBP/USD 4H Chart: Broadening Falling Wedge

Along with the wedge, which is a very long pattern going back to December 2015, the Cable is now probably forming a channel up due to developments of mid-March until today. For this purpose a drop below 1.4060 should be complicated, because it coincides with the March 16 and March 24 lows. Moreover, the monthly S1 offers another demand at 1.40. A slump below here would diminish all bullish fears, and exactly this scenario is now considered by the majority of technical indicators. On top of that, any increase in the value of the Sterling will hit a dense cluster of resistances near 1.4250, which is almost certainly going to reject the short-term idea of pair's advance.