M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
GBPUSD Forecast may remain aligned with the bearish bias on h1 time frame, as the sellers protects the last high at 1.34078 on h1 time frame. However the GBPUSD Forecast confirmed the latest supply zone at 1.34048 on h1. As a result GBPUSD Forecast indicates the bearish continuation on h1. On the other hand, m15 structure remains under sellers dominance. while trading below recent high at 1.33807 on m15 time frame. Meanwhile the GBPUSD Forecast established the fresh resistance at 1.33757 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.33757 – 1.33807
Latest Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.34048 – 1.34078
Fresh Distribution Zone
Fresh Bearish Reaction Zone
Support Zones
M15 Support Zone
1.32591 – 1.32550
Prior Support Base
Likely Reaction Area
H1 Support Zone
1.32431 – 1.32368
Pending Accumulation Zone
Projected Support Zone
Session Strategy
Although the sellers may continue to dominate in the h1 time frame. Therefore the price remains below the latest high at 1.34078 on h1 time frame. Meanwhile, a break above 1.34078 on h1 time frame. As a result structure could confirm the bullish continuation and form the fresh support at 1.34000 – 1.33956 on h1 time frame. In addition, a close above 1.33807 on m15 time frame. However the price may open the door for the upside continuation and setup the fresh support at 1.33670 – 1.33640 on m15 time frame.
Nyc Session Outlook
However the price could continue under the bearish structure on h1 time frame, as the structure defends the last high at 1.34078 on h1. Meanwhile the structure continues with the previous resistance zone on h1 time frame. On the other hand, m15 initiated the bullish momentum, as the price closes above the resistance at 1.33756 on m15 time frame. As a result price confirmed the fresh support at 1.33371 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.33986 – 1.33991
Previous Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.34048 – 1.34078
Prior Distribution Zone
Fresh Bearish Reaction Zone
Support Zones
M15 Support Zone
1.33371 – 1.33352
Prior Support Base
Likely Reaction Area
H1 Support Zone
1.32431 – 1.32368
Pending Accumulation Zone
Projected Support Zone
Session Strategy
Although the structure may remain favorable for the sellers on h1 time frame. Therefore the price remains below the latest high at 1.34078 on h1 time frame. However, a decisive close above 1.34078 on h1 time frame. Meanwhile, price could establish the bullish bias and form the fresh support at 1.34000 – 1.33956 on h1 time frame. On the other hand, a close below 1.33285 on m15 time frame. Therefore, the price may open the door for the downside structure and setup the fresh resistance at 1.33352 – 1.33371 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
Moreover, for daily GBPUSD chart analysis refer my GBPUSD Daily Analysis section