Q: Unable to create GCP External http load balancer I have been trying to mimic our production load balancer (HTTPS EXTERNAL LB) to create a similar pre-prod loadbalancer ( but with HTTP instead of HTTPS ) . 
While we have filled out all the options to create the load balancer , we are encountering the following error . 
Invalid value for field 'resource.target': 'projects/**/regions/us-east1/targetHttpProxies/preprod-web-server-loadbalance-target-proxy'. 

A reserved and active subnetwork is required in the same region and VPC as the forwarding rule

Having a tough time to figure out what is wrong with the configuration as we havent seen such error previously. Any inputs would be highly appreciated.

A: You could try creating http LB with following this guide [1] 

A: If you still gets the same error that means below:
GCPs Load Balancer does not check to see if the static IP you picked was regional or global. If you accidentally reserved a "regional" IP instead of a "global"

A: I am suspecting that you are selecting "Only between my VMs" option when you are starting to create your load balancer. "Only between my VMs" means internal HTTP(S) Load balancer.
The error message "A reserved and active subnetwork is required in the same region and VPC as the forwarding rule" appears when the proxy-only subnet (which is requiered for the creation) is missed. More information about the proxy-only subnet here.
So, when you start to create your external HTTP load balancer please select the "From Internet to my VMs" and select protocol "HTTP" for the frontend configuration.

A: I have got to know the issue , which is actually because of exhausted quota with external IPs. 
We need 2 IPs( one for vm and one for External Load balancer ) while we have only one left in the quota. 
After releasing couple of unused external IPs , we were able to create the LB without any issue. 
