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 extend its yesterday’s bearish bias on h1 time frame. Therefore the GBPUSD Forecast holds the recent high at 1.35532 on h1 time frame. Meanwhile GBPUSD Forecast identified the fresh resistance at 1.35395 on h1 time frame. In addition, the m15 reflects the buyers strength, as the GBPUSD Forecast trades above fresh low at 1.35113 on m15 time frame. Meanwhile the confirmed the fresh demand zone at 1.35127 on m15 time frame. Moreover, a close above 1.35328 on m15 time frame, could indicate the bullish continuation and may establish the fresh support on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.35470 – 1.35534
Pending Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.35394 – 1.35534
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35127 – 1.35113
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
1.34689 – 1.34635
Pending Demand Area
Higher Time Frame Support Region
Session Strategy
Although the price could continue for the downside structure on h1 time frame. Meanwhile the sellers protects the last high at 1.35534 on h1 time frame. Therefore, a decisive close above 1.35534 on h1 time frame. As a result price could confirm the bullish structure and may secure the fresh support at 1.35183 – 1.35027 on h1 time frame. On the other hand, a break below 1.35113 on m15 time frame. As a result, the sellers may regain the control and confirm the fresh resistance at 1.35264 – 1.35293 on m15 time frame.
Nyc Session Outlook
However the price is could continue under the bearish structure on h1 time frame, as the price continues below the last high at 1.35534 on h1 time frame. Although the price hasn’t secured any fresh resistance on h1 time frame, as the pending zones would remain effective on h1. In addition, m15 time frame established the bearihs structure, as the price closes below the latest low at 1.35113 on m15 time frame. As a result price identified the fresh resistance at 1.35264 on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35264 – 1.35294
Fresh Supply Zone
Short Term Resistance Area
H1 Resistance Zone
1.35394 – 1.35534
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.34784 – 1.34717
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34689 – 1.34635
Pending Demand Area
Higher Time Frame Support Region
Session Strategy
Although the price is expected stay with the bearish structure on h1 time frame. However the sellers remains effective below the last high at 1.35534 on h1 time frame. Meanwhile, a close above 1.35534 on h1 time frame. As a result price could establish the bullish bias and could secure the fresh support at 1.35183 – 1.35027 on h1 time frame. In addition, a breakout above 1.35328 on m15 time frame. As a result, the buyers could regain the control and introduce the fresh support at 1.35293 – 1.35264 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