M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
GBPUSD Forecast extending its bearish structure on h1 time frame, as the GBPUSD Forecast failed to close above the resistance at 1.36438 on h1. Meanwhile, GBPUSD Forecast isn’t formed any fresh resistance zone on h1. As a result prior resistance may remain effective on h1. In addition, the m15 remains aligned with h1 time frame bearish bias , while trading below the resistance at 1.36373 on m15. Meanwhile the GBPUSD Forecast established the fresh resistance at 1.36249 on m15. Moreover, a move below 1.35567 on m15, as the price may indicate to continue the bearish continuation and generate the fresh resistance at 1.35990 – 1.36013 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.36251 – 1.36308
Fresh Supply Zone
Short Term Support Area
H1 Resistance Zone
1.36973 – 1.37003
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35329 – 1.35236
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34689 – 1.34638
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the could continue under the bearish pressure on h1 time frame. Therefore the price remains below the resistance at 1.36438 on h1 time frame. Meanwhile a decisive close above 1.36438 on h1 time frame. As a result price could validate the bullish structure and setup the fresh support at 1.35752 – 1.35803 on h1 time frame. However, a close above 1.36373 on m15 time frame, as the price could shift the structure to the bullish side and introduce the fresh support at 1.36308 – 1.36251 on m15 time frame.
Nyc Session Outlook
Although the price looks bearish and it may continue for the further downside, until 1.36438 remains intact on h1 time frame. Meanwhile price respect the previous resistance zones on h1 time frame. In addition, m15 time frame represents the sellers dominance on, while trading below resistance at 1.36373 on m15 time frame. Moreover, the price trades within the same resistance zones on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.36251 – 1.36308
Pending Supply Zone
Short Term Support Area
H1 Resistance Zone
1.36973 – 1.37003
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35329 – 1.35236
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.34689 – 1.34638
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
Although the structure may remain beneficial for the sellers on h1 time frame. However the price trades under the resistance at 1.36438 on h1 time frame. In addition a define close above 1.36438 on h1 time frame. Meanwhile price may secure the bullish structure and setup the fresh support at 1.35752 – 1.35803 on h1 time frame. On the other hand, a secured close above 1.36373 on m15 time frame, as the price may turn the structure to the bullish side and may introduce the fresh support at 1.36308 – 1.36251 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