M15 & H1 Intraday Key Levels| Bearish Bias
Market Structure: Bearish
Intraday Sentiment: Sell On Rise
Session Focus: London| Nyc
London Session Overview
GBPUSD Forecast remains under the downward pressure on h1 time frame. As a result, the GBPUSD Forecast trades below the prior high at 1.33934 on h1 time frame. Meanwhile the GBPUSD Forecast remains guided towards the previous supply zone on h1 time frame. On the other hand, m15 structure continues with the downside momentum, considering the sellers defends the last high at 1.33217 on m15 time frame. However the pair remains influenced by the prior resistance zone on m15 structure. Until 1.33217 remains intact on m15, the further bearish momentum could continue.
Supply Zones
M15 Supply Zone
1.33262 – 1.33274
Pending Distribution Area
Shorter Time Frame Resistance Region
H1 Supply Zone
1.33826 – 1.33934
Former Resistance Zone
Prior Distribution Reaction Zone
Demand Zones
M15 Demand Zone
1.32589 – 1.32550
Previous Accumulation Area
Anticipated Support Region
H1 Demand Zone
1.32431 – 1.32367
Old Support Zone
Initial Accumulation Region
Session Strategy
However sellers may stay with their dominance on h1 time frame, until the price respects the the recent high at 1.33934 on h1 time frame. Meanwhile, if prive close firmly above 1.33934 on h1 time frame. As a result with this price may define the bullish structure and form the fresh support at 1.33460 – 1.33286 on h1 time frame. In addition, if price maintain acceptance above 1.33217 on m15 time frame. However, through this structure may identify the bullish continuation and confirms the fresh support at 1.33146 – 1.33111 on m15 time frame.
Nyc Session Outlook
However the sellers could continue the momentum on h1 time frame, with the structure defends the last high at 1.33934 on h1 time frame. Although the structure remains aligned with historical resistance zone on h1 time frame. In addition, the buyers gained the bullish momentum on m15 time frame, as the structure accepted close above 1.33217 on m15 time frame. As a result, the bulls formed the latest accumulation zone at 1.33147 on m15 time frame.
Key Supply & Demand Zone
Supply Zones
M15 Supply Zone
1.33986 – 1.33991
Pending Distribution Area
Shorter Time Frame Resistance Region
H1 Supply Zone
1.34048 – 1.34078
Former Resistance Zone
Prior Distribution Reaction Zone
Demand Zones
M15 Demand Zone
1.33147 – 1.33112
Fresh Accumulation Area
Anticipated Support Region
H1 Demand Zone
1.32431 – 1.32367
Old Support Zone
Initial Accumulation Region
Session Strategy
Although the structure could remain with the bearish momentum on h1 time frame, as long as the price holds the prior high at 1.33934 on h1 time frame. However, a decisive close above 1.33934 on h1 time frame. Meanwhile structure could establish the bullish bias and form the fresh support at 1.33460 – 1.33286 on h1 time frame. In addition, a finish below 1.33027 on m15 time frame. Therefore, the structure could markout the bullish structure and secure the fresh resistance at 1.33112 – 1.33147 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