M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
GBPUSD Forecast may continue the downside continuation on h1 time frame. Therefore the GBPUSD Forecast remains below the last high at 1.36534 on h1 time frame. Meanwhile GBPUSD Forecast trades between the unchanged resistance zones on h1 time frame. In addition, m15 time frame respects bearish bias, while trading below nearby high at 1.35868 on m15 time frame. Although the m15 time frame trades with same resistance, as established yesterday. Meanwhile, a decisive close below 1.35026 on m15 time frame, could introduce the fresh resistance at 1.35471 – 1.35534 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.35862 – 1.35868
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.36373 – 1.36438
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.34781 – 1.34720
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34687 – 1.34637
Pending Demand Zone
Higher Time Frame Support Confluence
Session Strategy
However the could remain under bearish pressure on h1 time frame. Therefore structure defends the last high at 1.36534 on h1 time frame. Meanwhile, a break above 1.36534 on h1 time frame. As a result price may initiate the bullish momentum on h1 time frame and establish the fresh support at 1.36438 – 1.36373 on h1 time frame. In addition, a close above 1.35868 on m15 time frame, as the price may validate the bullish structure and form the fresh support at 1.35803 – 1.35801 on m15 time frame.
Nyc Session Outlook
Although the price may remain under the bearish structure on h1 time frame, as the price hovers below last high at 1.36534 on h1 time frame. Meanwhile the price remains under same influence of prior resistance zone on h1 time frame. In addition, m15 time frame remains aligned with bearish momentum. Therefore the price remains below the last high at 1.36438 on m15 time frame. Meanwhile the price hasn’t identified latest resistance zone on m15 time frame, as the projected resistance zone would act as the valid and active resistance zone.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35862 – 1.35868
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.36373 – 1.36438
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.34781 – 1.34720
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34687 – 1.34637
Pending Demand Zone
Higher Time Frame Support Confluence
Session Strategy
However the structure could continue under bearish pressure on h1 time frame. Therefore sellers defends the prior high at 1.36534 on h1 time frame. In addition, a secured close above 1.36534 on h1 time frame. As a result price could confirm the bullish momentum on h1 time frame and may secure the fresh support at 1.36438 – 1.36373 on h1 time frame. On the other hand, a confirmed close above 1.35868 on m15 time frame. Meanwhile the price could validate the bullish bias and form the fresh support at 1.35803 – 1.35801 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
Moreover, for daily GBPUSD chart analysis refer my GBPUSD Daily Analysis section