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 extend yesterday’s bearish structure on h1 time frame, as the GBPUSD Forecast remain below latest resistance at 1.35695 on h1. Meanwhile GBPUSD Forecast secured the fresh resistance at 1.35600 on h1. On the other hand, the m15 time frame remains favorable for the sellers, as the GBPUSD Forecast trades below the latest resistance at 1.35695 on m15. As a result price confirmed the fresh resistance at 1.35658 on m15. Moreover, a decisive close below 1.35125 on h1 time frame, would confirm the continuation of bearish extension and form the fresh resistance at 1.35372 – 1.35425 on h1 and 1.35386 – 1.35425 on m15.
Resistance Zones
M15 Resistance Zone
1.35658 – 1.35695
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.35600 – 1.35695
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35096 – 1.34993
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.32431 – 1.32370
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may carry on the bearish momentum on h1 time frame. Therefore the price stay below the resistance at 1.35695 on h1 time frame. Meanwhile, a break above 1.35695 on h1 time frame. As a result price could initiate the bullish momentum and establish the fresh support at 1.35456 – 1.35238 on h1 time frame. Although the m15 structure could continue under the bearish pressure, until price holds the nearby resistance at 1.35695 on m15 time frame. Meanwhile a move above 1.35695 on m15 time frame. As a result price could validate the bullish bias and print the fresh support at 1.35329 – 1.35238 on m15 time frame.
Nyc Session Outlook
Although the price is expected to remain under downside structure on h1 time frame. Therefore the price holds the prior resistance at 1.35695 on h1 time frame. Meanwhile price remains aligned with prior resistance zone on h1 time frame. In addition, the m15 time frame continues under the bearish pressure, with the price remains respected towards the previous resistance zone on m15 time frame.
Key Resistance & Support Zone
Resistance Zones
M15 Resistance Zone
1.35658 – 1.35695
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.35600 – 1.35695
Pending Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
1.35096 – 1.34993
Pending Demand Zone
Short Term Support Base
H1 Support Zone
1.32431 – 1.32370
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may structure may remain tilted towards the downside momentum on h1 time frame. Therefore the price operates below the resistance at 1.35695 on h1 time frame. Meanwhile, a breakout above 1.35695 on h1 time frame. As a result price may initiate the upside extension and may confirm the fresh support at 1.35456 – 1.35238 on h1 time frame. Although the m15 structure may follow the bearish bias, until price hovers below the nearby resistance at 1.35695 on m15 time frame. Meanwhile a define close above 1.35695 on m15 time frame. As a result price may validate the bullish continuation and could shape the fresh support at 1.35329 – 1.35238 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