M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although is expected to remain under bearish structure. As a result GBPUSD Forecast confirmed the change of character to bullish side in mid nyc session yesterday and the sustain above the last support at 1.35038 on h1 time frame. Meanwhile the m15 time frame follows the h1 bullish structure. As a result the m15 time frame validate the character shift to the bullish side. Therefore the m15 and h1 both the time frame developed the fresh support zone at 1.35051 on m15 and 1.35061 on h1 time frame.
Support Zones
M15 Support Zone
1.35051 – 1.35038
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.35061 – 1.35038
Fresh Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35627 – 1.35657
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35488 – 1.35566
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the GBPUSD Forecast may trade in bullish price structure on h1 time frame. As a result GBPUSD Forecast trades above the last support at 1.35038 on h1 time frame. Therefore, if GBPUSD Forecast finished below 1.35038 on h1 time frame. As a result GBPUSD Forecast may reinforce the bearish bias and may create the fresh resistance zone at 1.35156 – 1.35168 on h1 time frame. On the other hand, a decisive close below 1.35038 on m15 time frame, would validate change of character to the bearish side. As a result GBPUSD Forecast could create the fresh resistance at 1.35129 – 1.35168 on m15 time frame.
Nyc Session Outlook
Although the price may maintain the bullish structure on h1 time frame, as the price respects the last support zone at 1.35038 on h1 time frame. In addition the price hasn’t set up any fresh support zone on h1 time frame. Therefore the morning levels would remain valid on h1 time frame. Meanwhile the m15 time frame making the higher high and higher low on m15 time frame and setting up the fresh support zone at 1.35284 on m15.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.35283 – 1.35270
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.35061 – 1.35038
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.36131 – 1.36150
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35735 – 1.35751
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is expected to trade in bullish price structure on h1 time frame. As a result price trades above the last support at 1.35038 on h1 time frame. Therefore, a close below 1.35038 on h1 time frame. As a result price would reinforce the bearish bias and could create the fresh resistance zone at 1.35156 – 1.35168 on h1 time frame. On the other hand, a finish below 1.35270 on m15 time frame, may validate change of character to the bearish side. As a result price could signal the fresh resistance at 1.35369 – 1.35393 on m15 time frame.
Key Takeways
Trend: Bullish
Bias: Buy On Dips
Follow H1 Structure
Disclaimer
Although this analysis is for educational and informational purposes only. Therefore it does not constitute financial advice. However always manage your risk and trade responsibly.
In addition, check out my Previous GBPUSD Forecast post
For daily GBPUSD chart analysis refer my GBPUSD Daily Analysis section