M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the GBPUSD Forecast is expected to remain under bullish structure on h1 time frame. As a result GBPUSD Forecast holds the last support at 1.35038 on h1 time frame. Meanwhile the m15 time frame following the yesterday’s bullish structure established in the mid nyc session yesterday. In addition the GBPUSD Forecast confirmed the fresh support zone at 1.35613 on m15 time frame. Moreover the GBPUSD Forecast hasn’t set up any fresh support zone on h1 time frame. Meanwhile the pending support zone would remain on h1 time frame.
Support Zones
M15 Support Zone
1.35613 – 1.35584
Fresh Demand Zone
Short Term Key Support Zone
H1 Support Zone
1.35060 – 1.35038
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
Although the price trades in bullish bias on m15 time frame. Meanwhile the structure hasn’t validate the fresh or near by resistance zone on m15 time frame. Therefore awaiting for new structure.
H1 Resistance Zone
1.35953 – 1.36060
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may remain in bullish bias on h1 time frame. As a result price respects the last support zone at 1.35038 on h1. Therefore if price post a close below 1.35038 on h1. As a result price may tilt the bias to the bearish side and may develop the fresh resistance at 1.35156 – 1.35166 on h1. In addition, a sustain close below 1.35584 on m15. As a result price may shift the short term bias to the bearish side and may establish the fresh resistance at 1.35765 – 1.35792 on m15. Moreover, a secured close above 1.35900 on h1 , the price may introduce the fresh support at 1.35476 – 1.35438 on h1.
Nyc Session Outlook
Although the price may continue towards the upside extension until 1.35038 remains intact on h1 time frame. Meanwhile the m15 time frame shifted its character to the bearish side, as the price closes below the 1.35584 on m15 time frame. Therefore price confirmed the fresh resistance at 1.35766 on m15 time frame. In addition, the h1 support zone would remain at the same level.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
Although the price trades in bearish bias on m15 time frame. Meanwhile the structure hasn’t validate the fresh or near by support zone on m15 time frame. Therefore awaiting for new structure.
H1 Support Zone
1.35060 – 1.35038
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35766 – 1.35792
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35953 – 1.36060
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price is likely to maintain the bullish bias on h1 time frame. As a result price trades above the last support zone at 1.35038 on h1. Therefore, a close below 1.35038 on h1. As a result price may shift the bias to the bearish side and may create the fresh resistance at 1.35156 – 1.35166 on h1. In addition, a define close above 1.35948 on m15. As a result price could shift the short term bias to the bearish side and would establish the fresh resistance at 1.35792 – 1.35766 on m15.
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