M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the GBPUSD Forecast may carry on the yesterday’s bearish structure on h1 time frame. Meanwhile the GBPUSD Forecast trades below the last resistance at 1.35357 on h1 time frame. In addition, GBPUSD Forecast confirmed the fresh resistance at 1.35288 on h1, by giving the breakdown confirmation below 1.34751 on h1. On the other hand, the m15 time frame secured the fresh near by resistance at 1.35105 on m15 time frame. Moreover a move below 1.34481 on m15 time frame, would validate the continuation bearish extension and could set up the fresh resistance at 1.34816 – 1.34854 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.35105 – 1.35183
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35288 – 1.35357
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.34343 – 1.34298
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.32432 – 1.32368
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to favor the sellers on h1 time frame. As a result price respects the recent resistance at 1.35357 on h1 time frame. Meanwhile, a decisive close above 1.35357 on h1 time frame. As a result price would establish the shift of momentum to the bullish side and may form the fresh support at 1.34822 – 1.34750 on h1 time frame. On the other hand, acceptance above 1.35183 on m15 time frame. As a result price may secure the bullihs bias and could set up the fresh support at 1.34803 – 1.34785 on m15 time frame.
Nyc Session Outlook
Although the price may continue to benefit the sellers on h1 time frame. Therefore the price trades below the lastest resistance at 1.35357 on h1. Meanwhile the price trades with same resistanec zone on h1 time frame. On the other hand, the m15 time frame secured the bullish momentum while giving the acceptance above at 1.34846 on m15. As a result price generated the fresh support zone at 1.34823 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35105 – 1.35183
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35288 – 1.35357
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.34823 – 1.34787
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.32432 – 1.32368
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Meanwhile the h1 structure may continue to favor the sellers on h1 time frame. Therefore, price respects the nearby resistance at 1.35357 on h1 time frame. However, a close above 1.35357 on h1 time frame. As a result price may establish character shift to the bullish side and could form the fresh support at 1.34822 – 1.34750 on h1 time frame. In addition, if price records a close below 1.34787 on m15 time frame. As a result price may secure initiate the bearish bias and could shape the fresh resistance at 1.34827 – 1.34859 on m15 time frame.
Key Takeways
Trend: Bearish
Bias: Sell On Rise
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