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 confirmed bearish bias during the mid asian session, as the GBPUSD Forecast closes below the recent support at 1.35247 on h1 time frame. Therefore GBPUSD Forecast introduced the fresh resistance at 1.35447 on h1 time frame. Meanwhile the m15 time frame trades in bullish structure. However the GBPUSD Forecast operates above the last support at 1.35211 on m15 time frame. Therefore the GBPUSD Forecast shaped the fresh support at 1.35234 on m15 time frame. In addition, a break below 1.35211 on m15 time frame, would open the door for further downside extension.
Resistance Zones
M15 Resistance Zone
1.35543 – 1.35577
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35446 – 1.35486
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35234 – 1.35226
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.34821 – 1.34751
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may remain aligned with bearish bias on h1 time frame. Therefore the price respects the near by resistance at 1.35763 on h1 time frame. Meanwhile a move above 1.35763 on m15 time frame. As a result price may tilt the bias to the bullish side and would confirm the fresh support at 1.35486 – 1.35446 on h1 time frame. On the other hand, acceptance below 1.35211 on m15 time frame. Meanwhile the price could validate the bearish structure and may establish the fresh resistance at 1.35226 – 1.35234 on m15 time frame.
Nyc Sesion Outlook
The price may continue the bearish momentum on h1 time frame, until price holds the resistance at 1.35763 on h1 time frame. Although the price hasn’t confirmed any fresh resistance zone on h1 time frame. In addition, the price continuously forming the lower low and lower high on m15 time frame and established the fresh resistance at 1.35094 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35094 – 1.35136
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35446 – 1.35486
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
Although the price trades in bearish structure on m15 time frame. Therefore the price hasn’t confirmed any fresh support zone on m15 time frame. Meanwhile awaiting for the fresh breakout.
H1 Support Zone
1.32431 – 1.32374
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the price may continues to favors the sellers on h1 time frame. Meanwhile price trades below the nearby resistance at 1.35763 on h1 time frame. Therefore a close above 1.35763 on m15 time frame. As a result price could shift the bias to the bullish side and could confirm the fresh support at 1.35486 – 1.35446 on h1 time frame. In addition, a move above 1.35136 on m15 time frame. Meanwhile the price may establish the bullish bias and could confirm the fresh support at 1.35050 – 1.35025 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