M15 & H1 Intraday Key Levels| Bullish Bias
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Session Overview
GBPUSD Forecast established the buyer’s side momentum on h1 time frame amid the nyc session yesterday, with the structure accepted close above the high at 1.33931 on h1 time frame. Meanwhile the bulls created the fresh support boundary at 1.33462 on h1 time frame. On the other hand, the m15 time frame remains bullish dominating, while extending the yesterday’s upside continuation on m15 time frame. However the GBPUSD Forecast secures the latest accumulation field at 1.33842 on m15 time frame. Moreover, a move above 1.34494 on h1 time frame, could confirm the fresh support at 1.34022 – 1.34009 on h1 time frame
Accumulation Zones
M15 Accumulation Zone
1.33842 – 1.33804
Latest Demand Area
Possible Buying Field
H1 Accumulation Zone
1.33462 – 1.33286
Fresh Support Boundary
Anticipated Demand Field
Distribution Zones
M15 Distribution Zone
1.35264 – 1.35292
Old Resistance Area
Shorter Time Frame Selling Zone
H1 Distribution Zone
1.35297 – 1.35329
Historic Supply Area
Probably Resistance Boundary
Session Strategy
However the GBPUSD Forecast may keep the upside structure intact on h1 time frame. Therefore the structure remains positive above 1.33027 on h1 time frame. Meanwhile, if price accepts a close below 1.33027 on h1 time frame. As a result, the sellers may comeback and could develop the fresh supply zone at 1.33286 – 1.33462 on h1 time frame. In addition, a decisive close below 1.33804 on m15 time frame, as the GBPUSD Forecast may invite the sellers again and could confirm the fresh resistance at 1.33984 – 1.34031 on m15 time frame.
Nyc Session Outlook
Although the buyers could continue dominate the price on h1 time frame, until price holds the last low at 1.33027 on h1 time frame. However the structure remains aligned with the previous accumulation zone on h1 time frame. Meanwhile, the buyers continues its structure in m15 time frame, as the structure defends recent low at 1.33804 on m15 time frame. Although the old demand levels would remain active and valid on m15 time frame.
Key Accumulation & Distribution Zone
Accumulation Zones
M15 Accumulation Zone
1.33842 – 1.33804
Pending Demand Area
Possible Buying Field
H1 Accumulation Zone
1.33462 – 1.33286
Previous Support Boundary
Anticipated Demand Field
Distribution Zones
M15 Distribution Zone
1.35264 – 1.35292
Old Resistance Area
Shorter Time Frame Selling Zone
H1 Distribution Zone
1.35297 – 1.35329
Historic Supply Area
Probably Resistance Boundary
Session Strategy
However the structure may continue to reflect the buyers strength on h1 time frame. Therefore the price stay positive above 1.33027 on h1 time frame. However, a break below 1.33027 on h1 time frame. Meanwhile, the sellers could initiate the bearish momentum and may establish the fresh supply zone at 1.33286 – 1.33462 on h1 time frame. On the other hand, a secured close below 1.33804 on m15 time frame. As a result the GBPUSD Forecast may confirm bearish bias and may develop the fresh resistance at 1.33984 – 1.34031 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
Moreover, for daily GBPUSD chart analysis refer my GBPUSD Daily Analysis section