M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
However the GBPUSD Forecast is expected to trade under the bearish structure on h1 time frame. As a result the GBPUSD Forecast signals bearish character shift and the GBPUSD Forecast finishes below the last support at 1.34110 on h1. Therefore the GBPUSD Forecast trades below the last resistance at 1.34796 on h1. Meanwhile the m15 time frame follows the h1 time frame bearish structure and shifted the character to the bearish side and GBPUSD Forecast closes below 1.34359 on m15 time frame. Meanwhile the GBPUSD Forecast trades under the last resistance at 1.34796 on m15. Moreover, if GBPUSD Forecast settle below 1.33815 on m15 time frame would develop the fresh fresh resistance at 1.34075 – 1.34096 on m15
Resistance Zones
M15 Resistance Zone
1.34418 – 1.34444
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.34514 – 1.34583
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.32589 – 1.32550
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.32417 – 1.32361
Pending Support Zone
Higher Time Frame Support Region
Session Strategy
Although the price may remain under the bearish pressure on h1 time frame. As a result, the price trades under the last resistance at 1.34110. Therefore a close above 1.34110 on h1 time frame. As a result, the price could establish bullish structure shift and may develop the fresh support zone at 1.34584 – 1.34514 on h1 time frame. In addition, if price hold above 1.34110 on m15 time frame. As a result the price may reinforce the bullish structure shift and may set up yeh fresh support zone at 1.34444 – 1.34418 on m15 time frame.
Nyc Session Update
Although the price may continue to trade in bearish structure, as the price trades within the last resistance at 1.34110 on h1. Meanwhile the price hasn’t established any fresh resistance on any time frame h1 and m15. Therefore the pending resistance would remain valid on both the time frame h1 and m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.34418 – 1.34444
Pending Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.34514 – 1.34583
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.32589 – 1.32550
Pending Demand Zone
Short Term Key Support Base
H1 Support Zone
1.32417 – 1.32361
Pending Support Zone
Higher Time Frame Support Region
Session Strategy
However the price is likely to maintain the bearish pressure on h1 time frame. As a result the price operate below the last resistance at 1.34110. Therefore, if price settle above 1.34110 on h1 time frame. As a result, the price could confirm the bullish structure shift and may carve out the fresh support zone at 1.34584 – 1.34514 on h1 time frame. Moreover, if price maintain a close above 1.34342 on m15 time frame. As a result the price would reinforce the bullish structure shift and may set up the fresh support zone at 1.34261 – 1.34230 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