GBP/USD Falling Wedge 2.0British Pound / U.S. DollarFOREXCOM:GBPUSDFOREXcomComing into April GBP had lagged behind the Euro, as evidenced by the EUR/GBP test of resistance. But so far on the month the British Pound has made up ground and that's now included two bullish breakouts from falling wedge formations, with a shorter-term setup giving way late last week and putting GBP in an interesting position for scenarios of USD-weakness. At this point the 1.3484-1.3500 zone stands out as a key support zone, and if buyers can show up on a pullback, that sets up for a higher-low that keeps the door open for a test of the 1.3600 level. With the Fed, BoE, BoJ and ECB all set for rate decisions this week, there's potential for trends in FX pairs such as what's shown in GBP/USD so far this month. - js