M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
Nyc Session Overview
GBPUSD Forecast validated the bearish structure on h1 time frame, as the GBPUSD Forecast closes below the support at 1.35638 on h1 time frame. Meanwhile the price hasn’t setup any fresh resistance on h1 time frame. However the prior resistance is already tapped by the price on h1 time frame. Therefore pending resistance would remain active and valid on h1 time frame and awaiting for the fresh breakdown confirmation. In addition, the m15 time frame trades under the bullish momentum, while forming the fresh support at 1.35800 on m15 time frame. Moreover, a finish above 1.36230 on m15 time frame, as the price could indicate the bullish continuation and form the fresh support at 1.36149 – 1.36126 on m15 time frame.
Resistance Zones
M15 Resistance Zone
As the price stays in the bullish bias on m15 time frame. Therefore the price hasn’t established any fresh or pending support on m15 time frame. Meanwhile looking for the fresh breakdown.
H1 Resistance Zone
1.36974 – 1.37005
Pending Supply Zone
Higher Time Frame Resistance Zone
Support Zones
M15 Support Zone
1.35800 – 1.35780
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
1.34685 – 1.34636
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may continue to trade under the bearish structure on h1 time frame. Therefore the price remains below the nearby resistance at 1.36435 on h1 time frame. Meanwhile, a decisive close above 1.36435 on h1 time frame. As a result price price may shift the bias to the bullish side and may introduce the fresh support at 1.35749 – 1.35802 on h1 time frame. In addition, a move below 1.35780 on m15 time frame, as the price may support the bearish bias and create the fresh resistance at 1.35893 – 1.35904 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