M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
Although the GBPUSD Forecast is expected to remain under the bullish pressure on h1 time frame. As a result GBPUSD Forecast holds the last support at 1.35038 on h1 time frame. Meanwhile the m15 time frame trades in the favor of buyers. Therefore the GBPUSD Forecast trades above the last support at 1.35270 on m15. Moreover, a move above 1.35900 on h1 and m15 time frame, could signal the continuation of bullish structure and may create the fresh support zone at 1.35599 – 1.35574 on h1 and at 1.35614 – 1.35574 on m15. In addition, the m15 and h1 both the time frame hasn’t established any fresh support zone on m15 and h1 time frame. Therefore the pending zones would remain valid on both the time frame.
Support Zones
M15 Support Zone
1.35283 – 135268
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.35061 – 1.35038
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.36131 – 1.36150
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35953 – 1.36060
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the GBPUSD Forecast may continue to trades in the bullish price on h1 time frame, as GBPUSD Forecast respects the last support zone at 1.35038 on h1. Meanwhile a finish below 1.35038 on h1 time frame. As a result GBPUSD Forecast may indicate character shift to the bearish side and may create the fresh resistance at 1.35156 – 1.35166 on h1. On the other hand, sustain close below 1.35268 on m15 time frame. As a result GBPUSD Forecast may tilt the bias to the bearish side and could create the fresh resistance at 1.35369 – 1.35394 on m15 time frame
Nyc Session Outlook
Although the price is likely to remain in bullish price structure on h1 time frame. As a result price trades above the last support at 1.35038. Meanwhile the m15 time frame validate the bearish structure on m15 time frame, as the price closes below the last support at 1.35585 on m15. Therefore the price established the fresh resistance zone at 1.35579 on m15. In addition, the h1 time frame hasn’t set up any fresh support zone on h1 time frame. However the pending zones would remain valid on h1 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.35283 – 135268
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.35061 – 1.35038
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35579 – 1.35612
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35953 – 1.36060
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
However the price may continue to hold the bullish price on h1 time frame, as price stay above the last support zone at 1.35038 on h1. Therefore a close below 1.35038 on h1 time frame. As a result price would signal the character shift to the bearish side and may introduce the fresh resistance at 1.35156 – 1.35166 on h1. In addition, a decisive close above 1.335612 on m15 time frame. As a result price would tilt the bias to the bullish side and may create the fresh resistance at 1.35369 – 1.35394 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