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 expected to remain in bullish price structure on h1 time frame. As a result GBPUSD Forecast trades above the last support at 1.35038. However the GBPUSD Forecast hasn’t confirmed any fresh support on h1 time frame. Therefore the pending support zone would remain valid on h1 time frame. Meanwhile the m15 time frame following the yesterday’s bearish structure and forming the lower low and lower high on m15 time frame. As a result GBPUSD Forecast set up the fresh resistance at 1.35416 on m15 time frame.
Support Zones
M15 Support Zone
As the GBPUSD Forecast trades in bearish structure on m15 time frame. Therefore the GBPUSD Forecast hasn’t set up any fresh or near by support zone on m15 time frame.
H1 Support Zone
1.35060 – 1.35038
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35416 – 1.35445
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 is expected to remain under bullish bias on h1 time frame. As long as the price holds the last support at 1.35038. Therefore a decisive close below 1.35038 on h1 time frame. As a result the price may tilt the bias to the bearish side and could set up the fresh resistance at 1.35156 – 1.35166 on h1 time frame. Meanwhile a close above 1.35445 on m15 time frame. As a result price may shift structure to the bullish side and may create the fresh support zone at 1.35223 – 1.35168 on m15 time frame.
Nyc Session Outlook
Although the price is expected to stay in bullish structure on h1 time frame, as the price trades above the key support zone at 1.35038. Meanwhile the price hasn’t established any fresh support zone on h1 time frame during the london session. In addition the m15 continuing its bearish structure, while staying below the last resistance at 1.35445. However the price hasn’t set up any fresh resistance zone on m15 time frame. Therefore the pending resistance at 1.35445 would remain valid on m15.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
Although the price remain in downside structure on m15 time frame. Therefore the price hasn’t introduced any fresh or near by support zone on m15 time frame.
H1 Support Zone
1.34584 – 1.34514
Pending Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35416 – 1.35445
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 maintain to favor the bullish bias on h1 time frame. As price trades above the last support at 1.35038. Therefore, a close below 1.35038 on h1 time frame. As a result the price could shift the bias to the bearish side and may set up the fresh resistance at 1.35156 – 1.35166 on h1 time frame. Meanwhile, a sustain close above 1.35445 on m15 time frame. As a result price may initiate the bullish momentum and could create the fresh support zone at 1.35223 – 1.35168 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