M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
Nyc Session Overview
GBPUSD Forecast extending the yesterday’s bullish structure on h1 time frame. Therefore the GBPUSD Forecast trades above the prior support zone at 1.35637 on h1 time frame. Meanwhile the GBPUSD Forecast trades with the previous support zone at 1.35650 on h1 time frame. On the other hand, the m15 time frame continues to trade under the bullish trend on m15 time frame. As a result price established the fresh support at 1.35931 on m15 time frame. Moreover, a breakout above 1.36433 on h1 time frame, as the GBPUSD Forecast could continue the bullish bias and from the fresh support at 1.35837 – 1.35794 on m15 time frame
Support Zones
M15 Support Zone
1.35931 – 1.35915
Fresh Demand Zone
Short Term Support Zone
H1 Support Zone
1.35650 – 1.35637
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
Although the price trades in bullish bias on m15 time frame. Therefore the price hasn’t confirmed any fresh or pending resistance zone on m15 time frame. Meanwhile awaiting for the fresh breakout.
H1 Resistance Zone
1.36974 – 1.37005
Pending Supply Zone
Higher Time Frame Resistance Zone
Session Strategy
However the price could carry on the bullish momentum on h1 time frame. Therefore the price stay above the nearby support zone at 1.35637 on h1 time frame. Meanwhile, a decisive close below 1.35637 on h1 time frame. As a result price may establish the bearish bias and secure the fresh resistance at 1.35750 – 1.35803 on h1 time frame. In addition, a break below 1.35915 on m15 time frame, the price could validate the bearish structure and produce the fresh resistance at 1.36075 – 1.36084 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