M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Market Overview
GBPUSD Forecast may continue the yesterday’s bearish momentum on h1, as the GBPUSD Forecast respects the last resistance at 1.35763 on h1. Meanwhile the GBPUSD Forecast hasn’t established any fresh supply zone on h1. Therefore the pending zones may remain active during the london session on h1. In addition, the m15 time frame initiated the fresh bearish momentum, as the GBPUSD Forecast closes below the latest support at 1.35123 on m15. As a result GBPUSD Forecast set up the fresh resistance at 1.35141 on m15. Moreover, a close below 1.34633 on h1, as the price may extend its bearish structure and from the fresh resistance at 1.35248 – 1.35281 on h1.
Resistance Zones
M15 Resistance Zone
1.35141 – 1.35155
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35446 – 1.35487
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35051 – 1.35027
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.32432 – 1.32369
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price is expected to remain under the bearish structure on h1 time frame, as price holds the near by resistance at 1.35763 on h1 time frame. Meanwhile, a decisive close above 1.35763 on h1 time frame. As a result price could secure the bullish structure and may print the fresh support at 1.35487 – 1.35446 on h1 time frame. On the other hand, a break above 1.35156 on m15 time frame, price could confirm the change of structure to the bullish side and shape the fresh support at 1.35116 – 1.35109 on m15 time frame.
Nyc Session Outlook
Although the price may continue to respect the bearish structure on h1 time frame. Therefore the price remains below the resistance at 1.35763. Meanwhile the price continue to trade with the previous active support zone on h1 time frame. However the price hasn’t set up any fresh resistance at amid the london session on h1 time frame. Therefore the pending zones would remain valid on h1 time frame. On the other hand, m15 time may remains bearish, until price holds the last valid and active resistance at 1.35156 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35141 – 1.35155
Fresh Supply Zone
Short Term Key Resistance Zone
H1 Resistance Zone
1.35446 – 1.35487
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the price trades in bearish momentum on m15 time frame. Therefore price hasn’t introduced any fresh support on m15. However awaiting for the fresh breakout on m15.
H1 Support Zone
1.32432 – 1.32369
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price could hold the bearish bias on h1 time frame, until price stay below the nearby resistance at 1.35763 on h1 time frame. Therefore, a close above 1.35763 on h1 time frame. As a result price may signal the bullish structure and could print the fresh support at 1.35487 – 1.35446 on h1 time frame. On the other hand, a move above 1.35156 on m15 time frame, price may support the bullish bias and confirm the fresh support at 1.35116 – 1.35109 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