M15 & H1 Intraday Key Levels| Bullish (mid London shift)
Market Structure: Bullish
Intraday Sentiment: Buy On Dips
Session Focus: London| Nyc
London Market Overview
GBPUSD Forecast may continue the bearish momentum on h1 time frame, as price hovering below the resistance at 1.35280 on h1 time frame. Meanwhile the GBPUSD Forecast markout the fresh resistance at 1.35247 on h1 time frame. On the other hand, the m15 time frame making the lower low and lower high while extending its bearish momentum. Meanwhile GBPUSD Forecast identified the fresh resistance at 1.35020 on m15 time frame. In addition, a break below 1.34579 on m15 time frame, could confirm the continuation of bearish structure and establish the fresh resistance at 1.34929 – 1.34957 on m15 time frame.
Resistance Zones
M15 Resistance Zone
1.35020 – 1.35032
Fresh Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.35247 – 1.35281
Fresh Supply Zone
Higher Time Frame Resistance Region
Support Zones
M15 Support Zone
As the GBPUSD Forecast favors the sellers on h1 time frame. Meanwhile the price hasn’t formed any fresh, pending or nearby support zone on m15 time frame. Therefore awaiting for the fresh breakout
H1 Support Zone
1.32432 – 1.32369
Pending Demand Zone
Higher Time Frame Support Region
Session Strategy
However the price may carry on bearish structure on h1 time frame. Meanwhile the price operates below the resistance at 1.35281 on h1 time frame. Therefore, a decisive close above 1.35281 on h1 time frame. As a result price could validate the bullish momentum and may produce the fresh support at 1.34686 – 1.34634 on h1 time frame. In addition, a move above 1.35032 on m15 time frame, price could shift the bias to bullish side and may form the fresh support at 1.34783 – 1.34717 on m15 time frame.
Nyc Session Outlook
The price secured the bullish momentum during mid london session on h1 time frame, as the price decisively close above the resistance at 1.35280 on h1 time frame. Meanwhile the price formed the fresh support at 1.34687 on h1 time frame. In addition, the m15 time frame established the bullish bias, as the price finished above the resistance at 1.35031 on m15 time frame. As a result price confirmed the fresh support at 1.34783 on m15 time frame.
Key Support & Resistance Zone
Support Zones
M15 Support Zone
1.34783 – 1.34716
Fresh Demand Zone
Short Term Support Base
H1 Support Zone
1.34687 – 1.34633
Fresh Demand Zone
Higher Time Frame Support Region
Resistance Zones
M15 Resistance Zone
1.35542 – 1.35578
Pending Supply Zone
Short Term Resistance Zone
H1 Resistance Zone
1.35546 – 1.35487
Pending Supply Zone
Higher Time Frame Resistance Region
Session Strategy
Although the price is expected to hold bullish bias on h1 time frame. Meanwhile the price trades above the support at 1.354543 on h1 time frame. However, a close below 1.354543 on h1 time frame. As a result price may support the bearish momentum and may generate the fresh resistance at 1.34633 – 1.34687 on h1 time frame. on the other hand, acceptance below 1.34543 on m15 time frame. Meanwhile price may shift the trend to sellers side and may identify the fresh resistance at 1.34718 – 1.34784 on m15 time frame.
Key Takeways
Trend: Bullish (mid London shift)
Bias: Buy On Dips
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