M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
GBPUSD Forecast initiated the bearish momentum on h1 time frame, as the GBPUSD Forecast manages to close below the recent support at 1.35920 amid the nyc session last friday on h1 time frame. Therefore the GBPUSD Forecast confirmed the fresh resistance at 1.36112 on h1 time frame. Meanwhile the m15 time frame continuous under the bullish momentum, while trading above latest support at 1.35692 on m15 time frame. However the GBPUSD Forecast hasn’t established any fresh support on m15 time frame. In that case the pending zones would remain active. Moreover, acceptance below 1.35692 on h1 time frame. As a result price may continue the downside extension and setup the fresh resistance at 1.36037 – 1.36071 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.36396 – 1.36435
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.36110 – 1.36225
Pending Resistance Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35096 – 1.34991
Pending Demand Zone
Short Term Support Zone
H1 Support Zone
1.35128 – 1.34990
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may maintain to hold the bearish bias on h1 time frame. Therefore the price remain above the resistance at 1.36582 on h1 time frame. Meanwhile a decisive close above 1.36582 on 1 time frame. As a result price may reinforce the bullish bias and may form the fresh support at 1.36225 – 1.36110 on h1 time frame. In addition, a close below 1.35692 on m15 time frame, as the structure may initiate to support the sellers and may print the fresh resistance at 1.35754 – 1.35798 on m15 time frame.
Nyc Session Outlook
Although the price may continue for the bearish extension on h1 time frame, as the price hold the nearby resistance zone at 1.36070 on h1 time frame. However the h1 time frame secured the fresh resistance at 1.36036 on h1 time frame. Meanwhile, the m15 time frame holds the bearish momentum and the price exposed the fresh resistance zone at 1.35754 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.35754 – 1.35798
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.36036 – 1.36070
Fresh Resistance Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35096 – 1.34991
Pending Demand Zone
Short Term Support Zone
H1 Support Zone
1.35128 – 1.34990
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price could remain under the bearish momentum on h1 time frame. Therefore price holds the latest resistance at 1.36070 on h1 time frame. Meanwhile, a move above 1.36070 on h1 time frame. As a result price could initiate the bullish momentum and may setup the fresh support at 1.35729 – 1.35692 on h1 time frame. On the other hand, a record close above 1.36070 on m15 time frame. Meanwhile the price could define the bullish bias and produce the fresh support zone at 1.35713 – 1.35692 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