Normal Braid is fibre's braided together (just like girls hair) and GSP is fused together...both are similar material but different manufacturing.
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This is how I always understood it to be. The gel spun refers to the initial way of creating the fibre. The how it is used is like Horse said either its braided together to form a constant string/length or thermally fused. I'm sure this is also how it was described in an article from a magazine once, but I haven't been able to find it at the moment.
Cheers
Glenn