M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
GBPUSD Forecast secured the bullish structure on h1 time frame. As a result GBPUSD Forecast closes above the nearby resistance at 1.36436 on h1 time frame. Meanwhile the GBPUSD Forecast remains aligned with the projected support zone on h1 time frame. In addition, the m15 structure established the bearish bias, as the price closes below the support at 1.36073 on m15 time frame. Therefore the GBPUSD Forecast markout the fresh resistance at 1.35862 on m15 time frame.
Support Zones
M15 Support Zone
As the price remains under the bearish pressure on m15 time frame. Therefore the price hasn’t confirmed any fresh or pending support on m15 time frame. Meanwhile awaiting for the fresh breakout.
H1 Support Zone
1.34689 – 1.34638
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35862 – 1.35868
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.36973 – 1.37003
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may hold the bullish bias on h1 time frame. Therefore the price trades above the support at 1.35784 on 1h time frame. In addition, a decisive close below 1.35784 on h1 time frame. As a result price may validate bearish bias and could introduce the fresh resistance at 1.36370 – 1.36437 on h1 time frame. On the other hand, a close above 1.35868 on m15 time frame, as the structure may establish the bullish structure and confirm the fresh support at 1.35803 – 1.35801 on m15 time frame.
Nyc Session Outlook
Although the price confirmed the bearish bias on h1 time frame, as the breaks below 1.35784 on h1 time frame. Meanwhile the price established the supply zone at 1.36373 on h1 time frame. On the other hand, the m15 time remains aligned with bearish structure. and trades with projected resistance zone at 1.35868 on m15 time frame. In addition, acceptance below 1.35030 on h1 time frame. As a result price would continue under downside structure and form the fresh resistance at 1.35395 – 1.35534 on h1 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35862 – 1.35868
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.36373 – 1.36438
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the price remains under the bearish pressure on m15 time frame. Therefore the price hasn’t confirmed any fresh or pending support on m15 time frame. Meanwhile awaiting for the fresh breakout.
H1 Support Zone
1.34689 – 1.34638
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price is expected to manage the bearish bias on h1 time frame. Therefore the price trades below the latest high at 1.36534 on 1h time frame. In addition, a break above 1.36534 on h1 time frame. Meanwhile price could validate bullish bias and may shape the fresh support at 1.36438 – 1.36373 on h1 time frame. Moreover, a breakout above 1.35868 on m15 time frame, as the structure may form the bullish structure and secure the latest support at 1.35803 – 1.35801 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