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 remain favorable to the sellers on h1 time frame. As a result the GBPUSD Forecast is continuing the yesterday’s bearish momentum on h1 time frame and hovering below the recent resistance at 1.35995 on h1. Meanwhile GBPUSD Forecast trades in the consolidation on h1 time frame. Therefore the GBPUSD Forecast hasn’t confirmed any fresh resistance on h1 time frame. On the other hand, m15 time frame continuing the h1 bearish structure while trading below the last resistance at 1.35246 on m15 time frame. Moreover, a close below 1.34792 on m15 time frame, would continue the bearish momentum and may confirm the fresh resistance at 1.35088 – 1.35105 on m15.
Resistance Zones
M15 Resistance Zone
1.35204 – 1.35246
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
As the price trades in consolidation on h1 time frame. Meanwhile the price hasn’t introduced any fresh resistance zone and the previous resistance zone is already tapped by the price. Therefore awaiting for the fresh breakdown structure.
Support Zones
M15 Support Zone
1.34523 – 1.34494
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34583 – 1.34513
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to downside momentum on h1 time frame, until 1.35399 remains intact on h1 time frame. Therefore a decisive close above 1.35399 on h1 time frame. As a result price would shift the bias to the bullish side and would confirm the fresh support zone at 1.35039 – 1.34831 on h1 time frame. In addition, acceptance above 1.35248 on m15 time frame, the price could strengthen the bullish momentum on m15 time frame and may set up the fresh support at 1.34937 – 1.34927 on m15 time frame.
Nyc Session Outlook
Although the price is expected to stay bearish on h1 time frame. As the price respects the recent resistance zone at 1.35399 on h1 time frame. Meanwhile price continues to trade under the consolidation on h1 and m15 time frame. In addition the m15 time frame secured the bullish bias shift as the price closes above 1.34946. However the price hasn’t formed any fresh support, as the previous support already tapped by the price at 1.34846 on m15.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35204 – 1.35246
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
Although the price trades is ranging on h1 time frame. Therefore the price hasn’t introduced any fresh resistance zone and the previous resistance zone is already tapped by the price. Meanwhile awaiting for the fresh breakdown structure.
Support Zones
M15 Support Zone
1.34523 – 1.34494
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34583 – 1.34513
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may carry on the downside structure on h1 time frame, until 1.35399 remains intact on h1 time frame. Meanwhile, a close above 1.35399 on h1 time frame. As a result price could shift the momentum to the bullish side and may confirm the fresh support zone at 1.35039 – 1.34831 on h1 time frame. In addition, a secured close below 1.34817 on m15 time frame, the price may signal the bearish momentum on m15 time frame and could set up the fresh resistance at 1.34931 – 1.34999 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