M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
Although the GBPUSD Forecast may continue to support the sellers on h1 time frame. As a result GBPUSD Forecast operates below the last resistance at 1.35398 on h1 time frame. Meanwhile the GBPUSD Forecast tapped all the active resistance zones on h1 time frame and continues to trade with the same supply levels. In addition, GBPUSD Forecast may continues to the upside momentum on m15 time frame, as the GBPUSD Forecast confirmed the structure shift to bullish side. As a result GBPUSD Forecast set up the fresh support zone at 1.35049 on m15 time frame.
Resistance Zones
M15 Resistance Zone
Although the price continues the bullish momentum on m15. Meanwhile the price hasn’t established any fresh or pending resistance zone on m15 . Therefore awaiting for the new structure.
H1 Resistance Zone
Although the price continues the downside momentum on h1. Meanwhile the price hasn’t established any fresh or pending resistance zone on h1. Therefore awaiting for the new structure.
Support Zones
M15 Support Zone
1.35049 – 1.35035
Fresh Demand Zone
Short Term Key Support Base
H1 Support Zone
1.34584 – 1.34514
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to favor the sellers on h1 time frame. As a result price trades below the last resistance at 1.35398 on h1. Therefore a decisive above 1.35398 on h1 time frame, the price could shift the momentum to the bullish side and may from the fresh support at 1.35039 – 1.34829 on h1. In addition, a close below 1.35035 on m15 time frame. As a result price may tilt the bias to bearish side and could establish the fresh resistance at 1.35186 – 1.35206 on m15 time frame.
Nyc Session Outlook
Although the price still leans to the bearish structure on h1 time frame. As the price is positioned below the recent resistance at 1.35398 on h1 time frame. Meanwhile price is still respecting the previous resistance zone at 1.35255 on h1 time frame. On the other hand, the m15 structure remains aligned with previous demand zone at 1.35049 on m15 time frame. Moreover, a move above 1.35345 and 1.35357 on m15 time frame, could confirm the fresh support at 1.35148 – 1.35104 and 1.35157 – 1.35144 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
Although the m15 structure favors the buyers. Meanwhile the price hasn’t established any fresh or pending resistance zone on m15 . Therefore awaiting for the fresh breakdown confirmation.
H1 Resistance Zone
However the price continues the downside extension. Meanwhile the price hasn’t established any fresh or pending resistance zone on h1. Therefore awaiting for the fresh structural confirmation.
Support Zones
M15 Support Zone
1.35049 – 1.35035
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.34584 – 1.34514
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price is likely to stay in bearish bias on h1 time frame. As a result price hovers below the last resistance at 1.35398 on h1. Meanwhile, a define above 1.35398 on h1 time frame, the price may shift the momentum to the upside extension and could from the fresh demand at 1.35039 – 1.34829 on h1. On the other hand, a settled close below 1.35035 on m15 time frame. As a result price may signal the bias shift to the bearish side and may establish the fresh resistance at 1.35186 – 1.35206 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