Open trading account 
GBP/USD 4 hour chart : 2 days back, I have presented a weekly chart of Pound/US Dollar and as per my analysis the area of 1.6300 to 1.6350 was a key support zone and also it remained a confluence area. The more evidence for a bigger up move in the coming hours can be seen from the positive divergence found on the 4 hour chart. Starting from 2nd Dec, price has made 3 lower lows. 1st one at 1.6340, 2nd one at 1.6320 and the last one at 1.6300 yesterday. For the each of those corresponding lower lows , the stoch has made successive lower highs indicating the accumulation by the buyers. On a daily chart, yesterday we have one more close inside the key S/R area of 1.6300 to 1.6350 meaning the buyers are still in control of the affairs after the breakout of 1.6300 levels last week. Considering that we have some major fundamentals due for the release later in the day, I expect the price to see a big upmove and my first target remains at BRN 1.6500.
